CDS Expected To Hurt SocGen’s Q2 Profits

06 Jul 2009

Credit default swaps used to hedge Société Générale’s loan portfolio are expected to make a dent in the firm’s second-quarter profits.

Credit default swaps used to hedge Société Générale’s loan portfolio are expected to make a dent in the firm’s second-quarter profits. In a preliminary statement, SG said that the CDS and “debt instruments issued by the group and booked at fair value” would cost the firm EUR1.3 billion ...

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