Bank, broker CDS tighter; Merrill narrows-CMA

NEW YORK, Oct 7 (Reuters) - Bank and brokerage credit spreads were broadly tighter in early trading on Tuesday as world stocks ticked higher on expectations of rate cuts around the world.

Five-year credit default swaps of Merrill Lynch & Co MER.N fell to 317 basis points, or $317,000 a year to protect $10 million of debt, down from 434 basis points on Monday, according to data from CMA DataVision.

Credit default swap spreads for Cargill Inc, Goldman Sachs Metlife Inc and General Electric Capital Corp also were broadly tighter, CMA said. (Reporting by Walden Siew, Editing by Chizu Nomiyama)