Credit default swaps for Germany and Italy hit record

09/20/2011 | Bloomberg · Reuters

After Standard & Poor's cut Italy's credit rating, credit default swaps for Italy and Germany hit a record high of 507 and 94 basis points, respectively. The Markit iTraxx SovX Western Europe Index of CDS on sovereign debt increased from 340 basis points Monday to 345 basis points today, indicating that credit quality has deteriorated.

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Bloomberg · Reuters

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