One CDS we are watching closely. The outlook for the Romanian 5-Year credit default swap has deteriorated dramatically. The spread has widened from key support at 250bps on September 10, widened to 256bps today. Going forward, it could still widen, possible as high a 330bps.
Romania's Economy and Finance Minister, Varujan Vosganian, recently estimated economic growth rate at around 8.5 and 9.1 percent. Romania could end this year with an economic advance of 8 percent.