CDS spreads tighten further on US financials

Wells Fargo said today that it expects a first-quarter profit of approximately $3 billion, partly due to a larger-than-expected gain from its acquisition of Wachovia. Five-year senior credit default swap (CDS) spreads on the bank tightened to 260.5 basis points at 2:30pm BST today from 286.1bp at close of trading yesterday, according to data from credit information specialist CMA Datavision. Spreads on Bank of America moved in to 295.8bp from 319.5bp.

Sentiment also improved towards Merrill Lynch

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

If you already have an account, please sign in here.


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