Cost of insuring Credit Suisse debt dwarfs that of other banks

Quick Summary

Other big banks have also seen their CDS prices climb, but the moves are dwarfed by the moves in Credit Suisse contracts.

Five-year dollar CDS for US lender JPMorgan added 15 basis points in the week to Thursday, reaching 94 basis points, according to Bloomberg data.

The Swiss bank’s five-year US dollar CDS has now topped 1,000 basis points — up from less than 400 basis points as recently as early March — with similar moves for euro-based contracts.

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News Analysis

Author / Journalist: Harriet Clarfelt

Category: Business

Topics: Suisse Suisse’s Basis Bank Moves Recent Credit Points Financial Banks Debt

Source Website Secure: Yes (HTTPS)

Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

News Source URL: ft.com

Readership Location: United States

Published Date: 2023-03-18, 12:00:32

News Timezone: GMT +8:00

Language: English

Original Article Length: 597 words

Reading Duration: 4 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 995435

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Name: Financial Times

Main Topics: Business

Official Website: ft.com

Last Update: 8h ago

Headquarters: United States

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