Citigroup CDS at 210 bps

Citigroup credit default swaps have increased to 210 basis points after the Federal Reserve said it failed to meet its minimum capital requirements in a stress test.

Citi disagrees but that is not preventing investors from hedging their bets.…

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5 banks write 97% of all CDS

Updated CDS market statistics for you courtesy of a few recent stories from ZeroHedge and Bloomberg.

Five banks—JPMorgan (JPM), Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC), and Citigroup (C) — write 97 percent of all credit-default

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American banks reacting to Italy

American bank credit default swaps are soaring in response to Italian contagion fears. They have previously released details about their individual exposures to Italian sovereign and/or corporate or related debt which range from over $6 billion in JP Morgan’s case …

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American bank CDS widening

From the WSJ……

While Morgan Stanley’s stock price is a few pennies higher today, bucking the rest of the sector and the broader market, the cost of insuring against a Morgan Stanley default in the CDS market is up …

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Australian creditors left with bitter taste

The Australian brewer of the county’s most popular Victoria Bitter (VB) beer, Foster’s Group, has seen its credit default swaps rise after British-South African brewer SAB Miller launched a hostile bid to takeover the company. As reported in Bloomberg,…

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Large American bank CDS prices

An update on some of the large American bank CDS prices which are rising again on continued concerns over European sovereign debt exposures (in addition to a plethora of other worries):

Citigroup 147 bps

Bank of America 169 bps

Goldman …

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CBOE adds more CEBOs

The Chicago Board Options Exchange (CBOE) re-launched its single-name Credit Event Binary Options (CEBO) in March on 10 industrial firms and due to customer demand, and announced the addition of 5 more financial firms during the last week of April

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Weekly: China CDS trading up

It doesn’t happen that often but weekly Chinese credit default swap volumes for the week ended June 3, 2011 reached over a billion again to $1.2 billion over 70 trades putting its gross notional value outstanding back over $40 billion …

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Antitrust Investigation into CDS market begins

The European Commission is investigating two separate antitrust cases concerning the credit default swap markets. According to the official press release:

In the first case, the Commission will examine whether 16 investment banks and Markit, the leading provider of

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Weekly: Italy unseats Spain

Italy edged out Spain for most active credit default swap based on weekly volume for the week ended April 29, 2011. It was the first time Spain has not been on top in two months, though overall volumes for …

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