London Whale costs JPMorgan 17 bps in credit risk

What does it cost to have a ‘London Whale’ working at your company?

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Wells Fargo’s relative CDS performance

Wells Fargo credit default swaps are tightening relative to the other major American banks as investors find comfort in is smaller geographic footprint and less volatile business activities.

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American banks reacting to Italy

Bank of America – 377.4 bps
Citigroup – 257.9 bps
Goldman Sachs – 339 bps
JP Morgan Chase – 153.1 bps
Morgan Stanley – 426.8 bps
Wells Fargo – 153 bps

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American bank CDS widening

Morgan Stanley CDS up to 410 bps, Wells Fargo CDS up to 150 bps.

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Weekly: China CDS trading up

As Chinese economic worries grow, derivative investors are moving into credit default swaps to hedge their bets.

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Weekly: Italy unseats Spain

Italy was the most active single name during the holiday shortened week

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Weekly: Will ANZ Bank buy AMMB

One of Australia’s major banks shows up on the active list.

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Weekly: Clariant CDS bubbles higher

Clariant, which just announced a purchase of rival Sued-Chemie, saw record trading in its credit default swaps last week.

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Weekly: Swaps of Steel

ArcelorMittal saw a record number of CDS trades last week.

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Sara Lee, European sovereign CDS tighter

Some of the active names to close out last week and begin this Martin Luther King Jr. holiday-shortened week in American credit markets.

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