Worries over Irish banking system lead to spike in CDS spreads

09/28/2010 | Wall Street Journal, The

Ireland's five-year sovereign credit default swap spreads increased about 38 basis points early today to around 510 basis points amid concerns about the cost of supporting the country's banking system. Ireland's CDS have never closed above 500 basis points, and the wide gap between bid and offer levels suggested the market might be illiquid.

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Wall Street Journal, The

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