US bank CDS spreads spike following US downgrade

US markets

Credit default swap (CDS) spreads on US banks have widened sharply following last week's decision by rating agency Standard & Poor's (S&P) to remove its AAA rating from US government bonds.

Rating agencies had warned earlier this year that failure by US politicians to set out a long-term plan to deal with the country's large debt burden would endanger its credit rating. Despite a last-minute agreement to raise the debt ceiling – which the US Congress hammered out before an August 2 deadline – S&

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: