CDS little changed

Posted by 7Star Friday, March 27, 2009

Credit default swap spreads were little changed on Thursday, after tightening earlier in the day partly in response to an offer by UK bank Lloyds to buy back subordinated debt. Royal Bank of Scotland came out with a similar offer to exchange subordinated debt for senior unsecured debt. Traders said there was little initial reaction in the CDS market to the banks actions.

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