CDS spreads on financials widen again
The cost of credit protection on US and European financial institutions rose in early trading today, despite falling on Wednesday on news of a plan by the US treasury to purchase $1 trillion worth of illiquid assets.
Spreads on fellow Wall Street firms Citi and Bank of America widened to 288.2bp and 175.5bp from 276.8bp and 172.6bp, while CDSs on Merrill Lynch and Wachovia
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