CDS market indicates increased risk of default in Europe

09/16/2011 | CNNMoney

The credit default swaps market indicates an almost 100% probability that Greece will default on its debt. CDS traders also signaled that Portugal, Ireland and Italy are facing a significant default threat. "We're obviously seeing legitimate concerns from the market that these countries will have difficulty paying back what's owed," said Peter Boockvar, equity strategist at Miller Tabak + Co.

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