Australian credit spreads ease on ECBQE

A solid fall in CBA CDS today from a recent high of 76.5bps to 68.5:

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It will be interesting to see how far it falls as Eurozone risk comes off the table, especially after Greece votes. Whatever is left is Australia’s own deteriorating situation.

David Llewellyn-Smith

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

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