Bear and Lehman among most active CDS in September

Amid disappointing third-quarter results, credit default swaps referenced to Bear Stearns and Lehman Brothers ranked among the most active in CDS trading in the US in September, according to a monthly report by New York-based interdealer broker GFI.

Bear Stearns and Lehman Brothers recorded drops in fixed-income revenues of 88% and 47% respectively year-on-year during September. Their names were among the most actively traded in the US CDS market, along with troubled California-based mortgage len

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