UBS credit default swaps hit decade high after Credit Suisse blow out

UBS credit default swaps hit decade high after Credit Suisse blow out - Copyright Thomson Reuters 2022

By Reuters

Published on 03/10/2022 - 19:20 GMT+2

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LONDON - The cost of insuring exposure to debt issued by Swiss lender UBS rose to a decade high on Monday after peer Credit Suisse was caught in the market spotlight amid concerns about its ability to revamp its business and bolster its capital.

UBS five-year credit default swaps (CDS) rose 12 basis points from Friday's close to 118 bps, its highest level since 2013, data from S&P Global Market Intelligence showed.

Credit Suisse CDS last stood at 335 bps, well above Friday's close of 250 bps but below the 355 bps hit earlier on Monday.

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UBS credit default swaps hit decade high after Credit Suisse blow out

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