It seems CDS players are happy not to hold positions open through to Monday.
Prices from Markit:
As Markit analyst Otis Casey explained the tightening, “This is largely technical driven with profit taking and people liquidating positions before the weekend. Goldman Sachs COO Gary Cohn declined to comment regarding the status of any settlement talks with the SEC.”
Back in the equity world at pixel time, Wall Street was extending its losses.
Related links:
‘Wild week’ leaves big questions – FT
CDS wrap: Carnage – FT Alphaville
Investors fear uncertainty cubed – Gillian Tett / FT
Blankfein pledges ‘rigorous’ self-examination – FT