Sovereign Debt - Risk of defaults with sharp declines in the last week

by Eduardo Petazze
The contracts for credit default swap on sovereign debt have had a widespread decline in the week ended September 10, 2013
The following is a summary based on provisional data
66-Sovereign Credit Default Swaps
# CDS-5yr (bps) 1-week chg Sep 10, 13 Sep 3, 13 # CDS-5yr (bps) 1-week chg Sep 10, 13 Sep 3, 13 # CDS-5yr (bps) 1-week chg Sep 10, 13 Sep 3, 13
1 Argentina
-395.1
2,490.9 2,886.0 23 South Africa
-15.2
222.8
238.0 45 Qatar
-4.9
79.0
83.9
2 Greece
-47.9
1,156.1 1,204.0 24 Kazakhstan
-10.9
200.0
210.9 46 South Korea
-9.4
69.5
78.9
3 Cyprus
3.9
1,094.8 1,090.9 25 Romania
-14.5
198.0
212.5 47 France
-0.7
68.7
69.3
4 Venezuela
-9.0
981.0
990.0 26 Russia
-15.8
187.5
203.3 48 Saudi Arabia
-5.5
67.0
72.5
5 Ukraine
-21.6
865.9
887.5 27 Brazil
-20.7
187.3
208.0 49 Abu Dhabi
-5.5
67.0
72.5
6 Pakistan
-7.3
774.1
781.4 28 Ireland
0.0
144.5
144.5 50 Estonia
-1.4
62.6
64.0
7 Egypt
-35.0
730.0
765.0 29 Iceland
-6.6
140.4
146.9 51 Japan
-4.3
62.0
66.3
8 Portugal
32.6
539.1
506.5 30 Peru
-17.1
138.5
155.6 52 Czech Rep.
0.0
61.0
61.0
9 Puerto Rico
10.7
520.2
509.4 31 Latvia
-6.5
135.5
142.0 53 Belgium
-1.1
60.6
61.7
10 Lebanon
-10.0
415.0
425.0 32 Lithuania
-6.5
135.5
142.0 54 Hong Kong
-3.5
54.4
57.9
11 Tunisia (CB)
-19.1
405.9
425.0 33 Israel
-4.9
134.0
138.9 55 Netherlands
0.0
50.5
50.5
12 Croatia
-12.5
337.5
350.0 34 Panama
-11.8
132.1
143.9 56 Australia
-2.3
45.2
47.5
13 Slovenia
-15.0
337.0
352.0 35 Colombia
-10.1
129.4
139.5 57 New Zealand
-4.5
44.0
48.5
14 Hungary
-30.6
290.8
321.4 36 Thailand
-18.3
124.7
143.0 58 UK
-0.7
34.5
35.2
15 Vietnam
-17.5
287.5
305.0 37 Malaysia
-20.4
123.0
143.4 59 Austria
-1.0
30.5
31.5
16 Indonesia
-50.2
247.5
297.7 38 Bulgaria
-16.6
121.0
137.6 60 Switzerland
1.5
30.0
28.5
17 Italy
5.2
244.7
239.5 39 Philippines
-20.7
120.0
140.7 61 Germany
-0.5
27.5
28.0
18 Bahrain
-11.3
240.0
251.3 40 Mexico
-15.5
116.5
132.0 62 Denmark
-1.6
22.7
24.3
19 Spain
2.0
233.5
231.5 41 Poland
2.0
93.5
91.5 63 USA
-0.1
21.7
21.8
20 Morocco
-12.6
233.0
245.5 42 Chile
-12.4
90.5
102.9 64 Finland
-0.9
20.7
21.6
21 Turkey
-18.9
225.5
244.4 43 China
-15.3
80.5
95.8 65 Sweden
-0.5
17.4
17.8
22 Dubai
-2.5
225.0
227.5 44 Slovakia
-7.0
80.0
87.0 66 Norway
-0.0
15.5
15.5
22-Country Avg.
585.2
615.3 22-Country Avg.
138.0
150.0 22-Country Avg.
46.0
48.1
-30.1
-12.0
-2.1
Data from Sept. 10, 2013 is provisional or estimate