CDS on Morgan Stanley and Citigroup decline

10/7/2011 | Bloomberg Businessweek

Credit default swaps prices on Morgan Stanley and Citigroup have dropped, CMA said. The decline comes as optimism mounts that European officials will be able to keep the sovereign-debt crisis from hitting banks' balance sheets. "Market participants have come to the conclusion that the extra-wide spread levels were an overreaction to some half-baked facts," said Allerton Smith, senior director of capital-market research at Moody's Investors Service.

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