Morgan Stanley CDS above 400

Morgan Stanley credit default swaps are reaching levels not seen since the credit crisis of years past and currently trade above 400 bps. While all the bulge bracket American banks (and most other banks in general) are seeing their CDS …

Read More »

London Whale costs JPMorgan 17 bps in credit risk

17 basis points according to last Friday’s market.  JPMorgan Chase’s unexpected billion-dollar trading losses caused the company’s (as well as its competitors’) credit default swaps to jump by just that much. Not everyone may call it unexpected, however, as …

Read More »

Panrico LCDS auction result

Spanish doughnut maker, Panrico, recently had its European loan credit default swap (ELCDS) auction which set a final price of 8.125 on November 23, 2011. There were 5 participants (Credit Suisse, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Royal …

Read More »

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

Read More »

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 …

Read More »

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 …

Read More »

CDS-related lawsuits always seem to be a failure in US

Lawsuits related to or involving credit default swaps, either directly or indirectly, seem to be doomed to failure in the USA with the latest being a lawsuit against Goldman Sachs related to losses sustained in the Timberwolf CDO (see prospectus

Read More »

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 …

Read More »

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 …

Read More »

Weekly: Venezuela volume tops a billion

Venezuelan credit default swap volumes for the week ended May 20, 2011 reached $1 billion again in the span of 50 trades. It is the second time reaching that mark this year – the first time was back on March

Read More »