The Business Times
business-time-50

Credit Suisse bonds slide, credit default swaps rise

google-preferred-sourceAdd BT as a preferred source
Published Mon, Nov 28, 2022 · 08:23 PM
    • Five-year credit default swaps have widened four basis points (bps) from Friday’s close to 349 bps, the highest since at least early October
    • Five-year credit default swaps have widened four basis points (bps) from Friday’s close to 349 bps, the highest since at least early October PHOTO: BLOOMBERG

    CREDIT Suisse bonds have fallen, and the cost of insuring exposure to its debt rose on Monday (Nov 28) following reports of fresh troubles at the Swiss lender.

    Five-year credit default swaps widened four basis points (bps) from Friday’s close to 349 bps, the highest since at least early October, according to data from S&P Global Market Intelligence.

    Bonds also came under pressure, with the additional Tier 1 US dollar-denominated issues down as much as 1.7 US cents, hitting the lowest level since mid-October.

    The head of Credit Suisse’s Swiss unit said on Sunday that “some customers have withdrawn some of their money, but very few have actually closed their accounts”. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Bonds

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    ​OCBC head of global consumer financial services Sunny Quek says: “All of us (financial institutions) have a wealth strategy. What’s really going to differentiate one bank from another is the execution."

    OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029

    Eugene Lee, chief marketing officer of Chagee (Asia-Pacific), says that even though tea is the world's second-most consumed beverage, it has not experienced “the same lifestyle elevation or premiumisation” that coffee has.

    ‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027

    UMS Integration CEO Andy Luong says the company has benefited from AI-driven increases in demand for deposition and foundry chipmakers, among others.

    UMS Integration closes 10.2% higher after posting ‘strong’ double-digit sales growth in Q1

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More