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Suncorp Metway CDS rising from the South (as Auzzie RMBS emerges from down under)

|Includes:ANZBY, CBAUF, CMWAY, DB, EWA, IAF, MBB, MBG, MQBKY, NABZY, Suncorp Group Ltd (SNMYF), VMBS, WBK

Australia’s 5th largest bank and 2nd largest property & casualty insurer has seen its credit default swaps rise to new local highs of 180 bps today after announcing it was launching a new A$500 million Australian residential mortgage-backed security (Auzzie RMBS) issue led by Deutsche Bank and Macquarie today in Sydney trading.

Disclosure: long all stocks