CDS: Stability comes in the form of flattening levels

Credit default swap 5-year mid-levels for structured products issuers (May 16)

Banco Santander97.6Bank of America195.59Barclays Bank158.75BNP Paribas84.115Citi400.475Commerzbank110.62Credit Agricole109.015Credit Suisse122.02Deutsche Bank104.95Goldman Sachs178.705HSBC90.215ICICI Bank302.24ING93.93JP Morgan117.92KBC Group258.25Mizuho Corporate Bank90Morgan Stanley273.755National Australia Bank100Nordea Bank94.6Royal Bank of Scotland179.085Societe Generale108.11Standard Chartered Bank180.545Svenska Handelsbanken98.1UBS144.135UniCredit110.825Wells Fargo135.225

Source: CMA

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