An updated list of credit default swap (CDS) prices and changes to default risk based on 38 countries courtesy of Bespoke Invest.
In general, sovereign default rates have been higher.
But the biggest the surge in default risks on a year to date basis have been in European countries, particularly in Ireland which jumped 58%, Belgium 53%, Spain 52% and Portugal 51%.
And the banking based financial turmoil has weighed heavily even on its major European economies as Germany, UK and France.
The regional pecking order of default concerns appears to be: Europe, Latin America and Asia.
Fortunately, the Philippines have so far had inconsequential changes.
Perhaps recent success of its latest bond offering which had been well received was reflected by such the seeming equanimity of CDS spreads (see see Philippines Secures Funding Requirements; Return Of The Bond Vigilantes?).
The following is the table of CDS prices…
As far as we are concerned, the Bond vigilantes seem to be lurking around the corner.
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