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Deutsche Bank CDS jump 21 basis points after stability concerns
September 30, 2016 / 8:01 AM / a year ago

Deutsche Bank CDS jump 21 basis points after stability concerns

LONDON (Reuters) - The cost of insuring Deutsche Bank’s (DBKGn.DE) debt against default jumped by 21 basis points on Friday after fresh reports over its stability rattled investors and sent shares to new all-time lows.

A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo

According to data provider Markit, credit default swaps DB5YEUAM=MG on Deutsche Bank’s five-year senior debt rose to 255 basis points from Thursday’s close of 234 basis points, yet still shy of the 7-month high of 260 bps hit on Tuesday.

Deutsche Bank assets have come under pressure again following a Bloomberg report that a number of hedge funds clearing derivatives trades with Deutsche had withdrawn some excess cash and adjusted positions, a sign of counterparties being wary of doing business with Germany’s largest lender.

Reporting by Karin Strohecker; Editing by Jamie McGeever

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