The cost of insuring Hungary's sovereign debt fell further on Friday to levels not seen for several months as investors anticipated details of the government's structural reform package.
Spreads for credit default swaps (CDS) on Hungarian sovereign debt were around 291 bp on Friday, falling from 294.2 bp at the close of the market on Thursday, according to data from CMA DataVision. The spreads show it costs €291,000 to insure €10 million of sovereign debt.
CDS spreads for Hungarian debt were near 400 bp in the first week of January.
CMA analysts told MTI in London on Friday that the spreads were last around 300 bp on November 8, 2010. (MTI – Econews)