Banks, Telecoms Most Active in Europe
Most Active Issues Include Cendant, Lear, VNU, Hilton Group
New York, November 1, 2005 - The credit default swap market saw active trading in October highlighted by GMAC, GM and Ford Motor Credit credit default swaps in the US, making October the eight consecutive month that auto manufacturers have seen the most activity, according to GFI, a leading inter-dealer broker for credit derivatives*. Cendant and Lear, newcomers to the most active column, rounded out the most active CDS in the US. In Europe, the banking sector remained in the most active column for the eighth straight month. Fixed Line Telecom, highlighted by Tele Danmark, France Telecom and Deutsche Telecom remained the most active sector in Europe, while VNU and Hilton Group emerged as newcomers to the most active single names. Brazil, Turkey and the Philippines remained the most actively traded sovereigns.