CDSs on US banks widen on fears of auto bankruptcies

Citi was worst hit, with five-year senior credit default swap (CDS) spreads referencing the bank jumping more than 35 basis points, from 598.4bp at close of trading on Friday to 633.6bp at close yesterday. Bank of America - which, like Citi, has taken $45 billion in capital from the US government's Troubled Assets Relief Program- saw its CDSs widen from 379.4bp to 400.7bp, while CDSs referencing San Francisco-based Wells Fargo moved out to 301.8bp from 270.8bp.

Elsewhere, CDSs referencing Goldma

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: