U.S. Financial CDS Rallying As Bank Stocks Surge

U.S. financial CDS are tightening and some bank stocks are surging as well on the back of this market rally.

First, CDS (5-year in bps), from CMA Datavision:

  • JPMorgan, down to 88 bps from 95.4 bps at yesterday’s close
  • Wells Fargo, down to 92.7 bps from 99.5 bps at yesterday’s close
  • Morgan Stanley, down to 209.5 bps from 224.5 bps at yesterday’s close

Now, financial stocks are also surging:

  • Wells Fargo up 2.33%
  • JPMorgan up 2.50%
  • Goldman Sachs up 2.05%

And Morgan Stanley, leading the pack.

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