"It's just general risk aversion. Both Portugal and Greece tightened quite a bit yesterday, it's just a pullback from that," said Gavan Nolan, an analyst at Markit.
Five-year credit default swaps (CDS) on Greek government debt rose by 21 basis points to 980 bps, according to data monitor Markit. This means it costs 980,000 euros to protect 10 million euros of exposure to Greek bonds.
source: REUTERS
