Implied sovereign ratings: UK ranks below China

Data from CMA’s latest global sovereign credit risk report (H/T Alea).

The world’s safest sovereigns (implied by current CDS spreads run through CMA’s own proprietary rating model):

And the world’s riskiest:

The UK, readers might be interested, comes in at 18th (in terms of safety), with an implied CMA rating of AA+, one step below China, and one above Slovakia.

Whether the market is pricing efficiently or not, is the question.