Major U.S. banks have seen their 5-year CDS prices decline as a result of a reduction in worry around mortgage putbacks and European exposure. Bank of America continues to ride higher, likely due to its large exposure to the mortgage market via its Countrywide division.
JPMorgan and Wells Fargo debt appears to remain the lowest risk credit for large banks on the U.S. market.
Photo: CMA Datavision
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