Default Swaps on Credit Suisse Climb to New Highs
Credit Suisse was supposed to draw a line under its problems with a restructuring and a $4 billion-plus capital increase, but investors remain jittery, with the cost of insuring the bank's debt against default scaling new peaks. Five-year credit default swaps in euros on Credit Suisse were quoted at 409 basis points, or 4.09 percentage point, early Wednesday, according to S Global Market Intelligence data. That means it costs 409 euros a year to insure €10,000 of debt issued by the bank against