Turkey Leads Sovereigns
Credit default swaps for the financial services and banking sector saw the most active trading in the US, led by Washington Mutual and Lehman Brothers according to GFI, a leading inter-dealer broker for credit derivatives*. The savings and loans sector rounded out the list with Fannie Mae, Freddie Mac and Countrywide Home Loans among the most active single names.
In Europe, the telecom sector was active again, led by Telecom Italia, Deutsche Telecom and France Telecom. Banking and media rounded out the active sectors.
In Asia, financial services and banking dominated for the 14th month in a row, led by Takefuji, Aiful and ACOM. Consumer services joined the most active list for the second time, led by Japanâs Promise Co.
Turkey, Ukraine and Russia were the three most active sovereigns.