CDSs on US financials narrow

Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling part of its stake in China Construction Bank.

Five-year senior credit default swap (CDS) spreads referencing BoA - which needs to raise a total of $33.9 billion according to US government stress tests announced last week - tightened from 194 basis points at yesterday's close to 189.3bp as of 2:00pm BST, according to data provided by credit information specialist CMA Datavision.

CDSs on Wells Fargo narrowed to 136.3bp from 141.5bp. Morgan Stanley saw its CDSs move in from 141.5bp to 136.3bp. Spreads referencing Citi tightened from 368.2bp to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

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 individual account here