NEXT UP: PORTUGAL (The Pragmatic Capitalist)

20 NOVEMBER 2010 BY BONDSQUAWK 0 COMMENTS

By Bondsquawk

Ireland’s Sovereign CDS it off its highs as the country is expected to accept a rescue package by the European Union and the International Monetary Fund. The cost of insuring Ireland sovereign debt fell from 600 basis points earlier this month and is now near 515 bps.

However, such a temporary fall was also seen in Greece CDS during the talks of its bailout and after it accepted the package. Today, however, its CDS is close to its highs it had reached during the crisis.

Clearly, Portugal is next.