Portugal CDS imply 70% default probability

Fears over a Portuguese default are driving investor concerns and leading to soaring bond yields and swap prices.

Large American bank exposures to Europe

Using credit default swaps, the large banks have cut net exposures to $50 billion

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.