Some traders hope Greek debt deal will trigger CDS

02/9/2012 | International Financing Review

Some market participants are optimistic that Greece's debt-restructuring deal will trigger credit default swaps. "Our baseline scenario is collective action clauses will be inserted into the Greek-law bonds, and when these are actioned, the CDS will trigger," one banker said. "The market will breathe a sigh of relief, and you'd hope this will mitigate the speculation around sovereign CDS."

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