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IKB Deutsche Industriebank CDS sink after rumoured sale to HSBC division

|Includes:BAC, BCS, BNPQY, C, CS, DB, GS, HSBC, JPMorgan Chase & Co. (JPM), MS, RBS, UBS, WFC

German small and medium enterprise lender IKB Deutsche Industriebank saw one of Friday’s biggest CDS price declines with its swaps falling about 60 bps, or almost 20%, from 320 bps to 260 bps by the close on rumours of a sale by owner Lone Star Funds. Among the reasons being speculated for its sale includes its inability to compete with the bulge bracket investment banks like JP Morgan, Goldman, Merrill, Morgan Stanley, Citigroup, Wells Fargo, Barclays, BNP Paribas, RBS, Deutsche Bank, UBS, Credit Suisse


Disclosure: long all stocks

Stocks: JPM, GS, BAC, MS, C, BCS, WFC, BNPQY, RBS, DB, UBS, CS, HSBC