Bear and Lehman among most active CDSs in September

Bear Stearns and Lehman Brothers recorded drops in fixed-income revenues of 88% and 47% respectively year-on-year during September. Their names were among the most actively traded in the US CDS market, along with troubled California-based mortgage lender Countrywide Home Loans, Virginia-based student lender Sallie Mae and New York-based financial firm CIT Group. In Europe, firms operating in the telecoms sector continued to lead CDS trading, including Madrid-based Telefónica, Telecom Italia,