Japan banks CDS

Sumitomo Mitsui Banking Corporation 163 bps
Bank of Tokyo-Mitsubishi UFJ 145 bps

First auction of 2012

Earlier this week, the first settlement auction for the year was held with little fanfare for a relatively less popular name in the loan credit default swap market.

Portugal reaches new high on default concerns

Egypt CDS at 600

Egypt CDS has tightened to 600 basis points after news about its talks with the IMF for a loan were made public.

Indian corporate CDS widening

The average cost of credit-default swaps insuring against debt defaults by seven Indian issuers climbed 237 basis points in the past year to 445 basis points due to concerns over slowing growth in India’s economy and a potential rise in bad loans.

Russia CDS tightens as most of Europe widens

With all the commotion over Europe, one semi-European country absent the spread widening is Russia.

When a short beats a CDS

In sovereign-land

Egypt CDS

It looks like Egypt is going to be one of those sovereigns to begin the year in the news and end it there as well. It was just under a year ago (January 2011) when many of the Egyptian uprisings started and after some settling down during mid-year, the Egyptians have taken to the streets again.

Current SBI price

State Bank of India credit default swaps currently trade around highs just under 400 basis points.

First Rupee Credit Default Swaps Traded

IDBI Bank and ICICI Bank have completed the very first Rupee CDS trades.