Goldman Sachs bought $24 billion CDS portfolio from UBS

UBS in Australia sold off CDS portfolio in fixed income scale-back

UBS

Goldman Sachs purchased a portfolio of 4,500 Australian credit default swaps (CDSs) from UBS last year, after the Swiss bank opted to retrench from the fixed-income business across Europe and Asia, a source has revealed.

The deal was concluded in November with Goldman coming out winners for a portfolio of mixed Australian index CDSs with between two and five years' duration remaining.

The terms of the deal were confidential, but Asia Risk has learnt that during the period until the swap book was

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