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 …

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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. Currently WFC CDS trades around 110 bps.

While credit-default swaps on Wells

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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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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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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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Weekly: Will ANZ Bank buy AMMB

One of Oceania’s major banks, Australia and New Zealand Banking Group (ANZ Bank), saw a record amount of swap trading for the week ended March 11, 2011. About $560 million worth of credit default swaps in 36 contracts traded …

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Weekly: Clariant CDS bubbles higher

Swiss-based chemical maker, Clariant, saw a record amount of credit default swap activity for the week ended February 18, 2011. In the company’s second appearance on the active list this year (the first being February 18, 2011), a …

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Weekly: Swaps of Steel

Steelmaker ArcelorMittal saw a record amount of 342 trades covering $1.4 billion in gross notional value for the week ended February 11, 2011 making it the tenth most active credit default swap. The world’s largest steel company has not seen …

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Sara Lee, European sovereign CDS tighter

Sara Lee credit default swaps, which were one of the most active single-names last week, fell in price from 285 bps to 278 bps last Friday after investors appeared to be pricing in less of a chance of the …

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