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Hungary CDS spreads reach two-month low

The cost of insuring Hungary's sovereign debt has reached its lowest point in two and a half months, according to data on credit default swap (CDS) spreads from CMA DataVision, a major CDS market monitor in London.
CDS spreads for Hungary were at 305 basis points (bp) in trade on Wednesday, down from 311.7bp after the previous close, according to the CMA data. In the first week of January, CDS spreads for Hungary were almost 400bp.
CMA analysts told MTI that CDS spreads were last around similar levels in the middle of November 2010.
The spreads show that insurance for every €10 million of Hungarian debt is about €100,000 cheaper than a month earlier.(Econews)