CDO activity sparks tightening in default swap prices
Trading in the European credit default swap market this week was brisk, with traders stating they had seen good liquidity in the market and narrowing spreads following the holiday break.
Traders said default prices were noticeably tighter across the board, with the cost of protection for European telecoms cheapening quickly. Five-year credit protection for BT Group debt was trading at 63/73 basis points today
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