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Countrywide Home Loans dominates December US CDS trading

Credit default swaps (CDS) for the banking and financial services sectors dominated the most active trading in the US over December, led by Countrywide Home Loans, Lehman Brothers, CIT Group, Merrill Lynch and SLM Corp, according to interdealer broker GFI’s monthly credit derivatives report.

    • Ryan Davidson
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In Europe, the telecoms sector saw the most active CDS trading for yet another month, led by Telecom Italia, Telefonica and Deutsche Telecom. The food retail and wholesale sector joined the most active category, with Danone the most traded contract. The banking sector remained in the most active category, while Marks & Spencer rounded out the most active single names.

Similar to the US, the banking and financial services sectors dominated again in Asia, led by Bank TuranAlem, JSC Kazkommertsbank, Orix Corp and Bank of Tokyo-Mitsubishi UFJ. Turkey, Russia and Brazil were the three most active sovereigns for the month, according to GFI.

See also:
Fannie Mae most active CDS in US for November
Financials dominate CDS trading again

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