European five-year sovereign credit default swaps (SDSs) surged amid a bond market sell-off. The UK's five-year SDS rose 2.4 basis points to 20.5 basis points, a new high since October. Italy's five-year SDSs rose 4.7 basis points to 36.2 basis points, a new high since October. France's five-year SDSs rose 3.8 basis points to 31.6 basis points, a new high since November.
