In our prior post we highlighted year to date country stock market returns. Â Below we highlight the change in sovereign debt default risk for 50 countries. Â For each country, we show where its 5-year CDS (credit default swaps) currently stands and where it was at the start of the year. Â Prices are in basis points.
As shown, just 3 of the 50 countries have seen default risk increase in 2012 -- Portugal, Greece and Spain. Â Spain is the main problem, with default risk now up 32.31% year to date.
Norway, Switzerland, the US and Sweden have seen huge drops in default risk so far this year. Â Norway now has the lowest default risk of any country at 22.05 bps, followed by the US at 29.6 bps. Â It's been awhile since US CDS has been below 30.
