Greek CDS rises after Greece GDP data – Markit

The cost of protecting Greek government debt against default rose on Thursday after data showed Greece's economy shrank by a bigger-than-expected 1.5% in the second quarter.
Five-year credit default swaps (CDS) on Greek government debt widened to 795 basis points, up 32 bps on the day and compared with around 785 bps before the data, according to CDS monitor Markit.
This means it now costs 795,000 euros per year to insure an exposure of 10 mln euros of Greek government bonds.
"Greece widening after disappointing Q2 GDP figures," said Markit's Gavan Nolan.
The 10-year Greek/German government bond yield spread was steady at around 810 bps.