Bank CDS spreads tighten on positive second-quarter results

Five-year senior credit default swap (CDS) spreads referencing Goldman Sachs moved in from 150.3bp at New York close on Monday July 13 to 133.1bp at 3:30pm BST today, according to data from credit information specialist CMA Datavision. On July 14, the bank announced quarterly profits of $3.44 billion.

CDS spreads on JP Morgan, which on July 16 posted a $2.7 billion profit for the second quarter, narrowed to 83.8bp from 100.5bp in the same time period. Spreads on Bank of America were trading tight

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