BoJ study links widening CDS spreads in Greece to greater sovereign debt risk
A paper published by the Bank of Japan in April studies the expansion of the sovereign CDS market focusing on the relationship between CDS premiums and fiscal risk variables, and the international co-movement of CDS premiums.
The analysis reveals that transaction volume has recently expanded rapidly mainly reflecting the significant increase in fiscal expenditure in some countries and the heightened awareness of European sovereign risk, yet the degree of interrelation between CDS premiums and
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