Trading Report Highlights Regional Differences
Credit default swaps for the banking sector saw the most active trading in the US, led by Bear Stearns, according to a report from GFI. Financial services remained in the most active category, led by Countrywide Home Loans, while the auto manufacturing sector rounded out the list. In Europe, telecoms dominated for the sixth month in a row, led by Telecom Italia and TeliaSonera. The food retail and wholesale sector maintained its position for the second straight month, while Valeo pushed the auto parts sector into the most active category. In Asia, financial services dominated for the eleventh straight month led by Aiful and Softbank Corporation. Trading companies and distributors entered the most active category, led by Itochu Corporation, while the banking sector rounded out the list. Turkey, Brazil, Argentina and Venezuela were again among the most active sovereigns with Philippines replacing Ukraine.