Auto CDS prices fall after Volvo results -traders

Newswire

LONDON, July 23 (Reuters) - The cost of insuring against a default by Swedish truck maker AB Volvo fell slightly on Wednesday after the company released better than expected second-quarter results, traders said. Protection prices across the auto sector were stable to slightly lower as the reporting season gets into gear in Europe, they said. Five-year credit default swaps (CDS) on Volvo were bid at 37 basis points and offered at 46 bps early on Wednesday, according to brokerage ...

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