CDS under pressure as market awaits Irish news
Irish bank CDS spreads came under pressure at the end of last week ahead of the release of the country’s bank capital needs, which are due to be announced this Thursday. Bank of Ireland’s five year subordinated CDS closed last week at 1,868bp, from 1,650bp at the beginning of the week. The bank’s senior CDS traded better, closing the week at 1,027bp from the 1,042bp open last Monday.
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