Treasury CDS tighten on money market plan
LONDON (Reuters) - The cost of insuring U.S. government debt against default eased off record wides on Friday after the U.S. Treasury created a program to guarantee money market mutual funds.
Credit default swaps on 10-year Treasury debt tightened to 25.3 basis points from a record wide of 27.9 basis points earlier, according to CMA, a specialized data provider.
CMA said CDS on five-year Treasury debt also tightened to 22 basis points from 22.5 basis points earlier.
(Reporting by Natalie Harrison)
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