Sold CDS notionals climbed 16% at top US banks in Q1
Wall Street giants Bank of America, Citi, JP Morgan, Goldman Sachs, Morgan Stanley and Wells Fargo expanded their credit default swap (CDS) portfolios in the first three months of the year to just shy of $5 trillion combined, the highest aggregate amount in two years.
Regulatory filings show that sold CDS notionals outstanding totalled $2.4 trillion at end-March, up 17% quarter-on-quarter, and purchased CDS notionals $2.56 trillion, up 16%. In the year-ago quarter, aggregate CDS notionals
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