CDSs widen on Australia and tighten on financials
Spreads on Australian financials and Asian telecommunication companies widened in European trading this morning, while banks were trading tighter in the US and Europe.
Australian financials also suffered today as CDSs on National Australia Bank and Australia and New Zealand Banking Group widened to 148.1bp and 144.5bp from 129.8bp and 127bp.
The cost of credit protection on the Commonwealth Bank of
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