Eurozone CDS spreads widen as equities plummet
Wider eurozone CDS spreads in early morning trading mirror movements in the equities market
The cost of insuring eurozone sovereign debt blew out in early morning trading today as share prices across Europe and Asia fell.
Data provided by CMA Datavision shows that at 10:30 BST the cost of five-year credit default swap (CDS) protection on Greek sovereign debt stood at 745.7 basis points, up from yesterday's close of 695.5bps. CDS spreads in Portugal, Ireland, Italy and Spain, the countries considered most at risk of contagion from the Greek crisis, are all much higher than yesterday's
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