- May 3, 2010
CDS to watch this week: GS, BP, HAL, RIG
After a tumultuous week in certain sectors of the credit derivative markets, all eyes will be watching some of these names:
– Goldman Sachs. CDS rose 33 bps to 166 bps according to CMA or rose 32 bps to 163 according to Markit on Friday following the SEC’s fraud criminal investigation of the company. CMA also reported CDS on Morgan Stanley, Bank of America and JP Morgan Chase rose to 167 bps, 138 bps and 81 bps, respectively.
– BP, Halliburton & Transocean. BP which owns the well which caused the oil spill in the Gulf saw its CDS widen out to 54 bps according to CMA. Transocean, which operated the rig which caused the oil spill, widened to 95 bps according to Markit and 107 bps according to CMA while Halliburton, which does work on the rig, widened to 71 bps according to Markit and 70 according to CMA.