ECB must step up, say investors as Moody’s frets over banks
Financial institution bond investors on Thursday added their voices to calls for the European Central Bank to start buying sovereign bonds to stop contagion from Greece’s fiscal crisis.
And that crisis took another twist as Moodys placed Portugal and all ten rated Portuguese banks on review for possible downgrade on Wednesday.
The sovereigns CDS was up at 422bp by midday on Thursday, from 350bp at Wednesdays close.
This comes in the third week without new issues
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