CDSs on euro peripherals widen over weekend
CDSs on Ireland, Portugal, Italy, Hungary and Spain increased over the weekend, while the cost of protection against Greek default fell.
Five-year credit default swaps (CDS) on Ireland rose from 544 basis points at end-of-day Friday to 560bp as of 1.00pm UK time today, according to market-data provider Markit.
CDSs on Portugal rose from 433bp on Friday to 447bp today. The cost of insuring against Italy defaulting on its debt went up slightly, from 210bp on Friday to 220bp today, while CDSs on Spain increased from 298bp on Friday to 311bp today.
CDSs on Hungary widened from 364bp on Friday to 382bp today, after Moody's downgraded
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