Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Euro-zone CDS spreads widen sharply on debt fears *PIC*

Euro-zone CDS spreads widen sharply on debt fears ( EURUSD ) (by William L. Watts)

LONDON (MarketWatch) -- The cost of insuring Greek sovereign debt against non-payment soared further into record territory Monday after a Greek newspaper reported that Athens had asked the IMF and the European Union to start talks on restructuring its debt. A finance ministry spokesman said the reports weren't true, Reuters reported. The spread on five-year Greek credit default swaps widened by 86 basis points to 1,222 basis points, according to data provider Markit. That means it would cost $1.222 million annually to insure $10 million of Greek debt against default for five years, up from $1.136 million on Friday. The Portuguese CDS spread widened 20 basis points to 620 after Finland's euro-skeptic True Finns party made a strong showing in Sunday's national election, underlining concerns it could slow or block talks on a bailout for Portugal. The euro (cur_eurusd) fell 0.5% versus the dollar from Friday to trade at $1.4348.