Improving market sentiment in Europe, notably  among  sovereigns, led to global credit default swap (CDS) spreads tightening  over  2%,  according  to Fitch Solutions in its latest Risk and Performance Monitor (RPM).

While  sovereign  spreads  globally  tightened  by 2.9% last week, European sovereigns  came  in  5.6%, followed by Americas/Oceania 2.3%, and Asian by 1%.  "Italy,  Germany and Spain are leading the way with significant spread tightening," said managing Director Jonathan DiGiambattista.

CDS  performance  among  financial  institutions also saw improvement, with spreads  tightening  by  2.64%. Once again, European financial institutions tightened the most with spreads coming in 4.7%.


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