May 30, 2012 / 8:03 AM / 5 years ago

EURO GOVT-Spanish CDS prices at new highs, Italy also up

LONDON, May 30 (Reuters) - The cost of insuring against a Spanish default hit new highs on Wednesday, and the Italian equivalent also rose as fears about Spain’s ability to prop up its banking sector and regions grew.

Spanish 5-year credit default swaps rose 21 basis points to 579 basis points, according to monitor Markit. Italian CDS were 16 bps higher at 532 bps.

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