CDSs tighten on US banks and energy companies

Five-year senior credit default swap (CDS) spreads referencing Merrill Lynch tightened to 207.1 basis points at 3:30pm London time from 231.9bp at the close of trading on Thursday. CDSs on Merrill's parent company Bank of America tightened to 185bp from 201.6bp, despite rating agency Fitch Ratings downgrading the bank's preferred stock to below investment grade status.

Former investment bank Goldman Sachs spreads moved in to 247.3bp from 271.4bp, while the cost of protection on Citigroup dropped

To continue reading...

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 indvidual account here: