MARKET TALK: Japan CDS Wider Amid Greece Deal Concerns -Trader

The iTraxx Japan Series 16 widens, trading at 152, 154, 153, 153.5 bps vs Wednesday's 147.5 bps, amid concerns over delays in a Greece debt deal, says a Tokyo CDS trader. Still, the widening didn't continue in the Tokyo market as the Nikkei showed some resilience, he says. Japan USD-denominated sovereign CDS trade at 134, 133, 132, 132.5 bps vs Wednesday's 129 bps. Among single-name deals seen, Sony Corp. (6758.TO) at 180 bps vs 170 bps on Feb. 8, Hankyu Hanshin Holdings Inc. (9042.TO) at 88 bps, JFE Steel Corp at 120 bps, Oji Paper Co. Ltd. (3861.TO) at 66 bps, Kawasaki Heavy Industries Ltd. (7012.TO) at 132 bps and Sumitomo Corp. (8053.TO) at 99 bps vs 105 bps on Jan. 27