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European Telecom Credits Mauled
Interesting CDS insight from Markit's own Gavin Nolan. The Eastern European weakness is spreading from sovereigns to corporates, with telecoms that have EE exposure being blown out of the water. Telenor, Hellenic Telecom, Telekom Austria and TeliaSonera most impacted today. Expect this to spread to consumer, industrials and tech.
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