Last night, the US Department of Justice initiated an investigation against Switzerland’s Credit Suisse and UBS, whether their executives helped rich Russian businessmen evade anti-Russian sanctions already in effect. And today, partly for this reason and partly because the price of Deutsche Bank’s insurance against bankruptcy risk continues to rise sharply: on Wednesday the price of the 5-year CDS closed at 142 bp, yesterday it jumped to 173 bp, on Friday and it is already around 210 bp according to intraday data from Markit, although it was still around 80 bp in the first days of March.
Deutsche Bank’s share price is down 8% on Friday morning, which drags down the results of other sector peers as well, and these concerns are now overshadowing the fact that otherwise all the French, German and Eurozone purchasing manager indices were better than expected in February, according to today’s data releases.
Source: Portfolio.hu – Üzlet by www.portfolio.hu.
*The article has been translated based on the content of Portfolio.hu – Üzlet by www.portfolio.hu. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!
