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Greek 5-year CDS falls to 187.9 bps - CMA

Tue Dec 1, 2009 5:58am EST

LONDON, Dec 1 (Reuters) - The cost of protecting Greek government debt against default fell on Tuesday, according to monitor CMA DataVision, as concerns about the fallout from Dubai's debt problem eased and riskier assets rallied.

Five-year credit default swaps (CDS) on Greek government debt fell to 187.9 basis points from 198.3 basis points at the New York close on Monday.

This means it now costs 187,900 euros per year to insure an exposure of 10 million euros of Greek government bonds, compared with 198,300 euros on Monday.

The premium investors demand to hold 10-year Greek government bonds GR10YT=RR rather than euro zone benchmark German Bunds DE10YT=RR fell to 167 basis points from around 183 bps late on Monday. (Reporting by Ian Chua) ((ian.chua@thomsonreuters.com; +44 207 542 7348; Reuters Messaging: ian.chua.reuters.com@reuters.net))


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