Gov’t Deal Helps Tighten Citi CDS

27 Feb 2009

News that the federal government would acquire a 36% equity stake in Citigroup in exchange for rescue funding helped narrow credit default swaps on the ailing bank.

News that the federal government would acquire a 36% equity stake in Citigroup in exchange for rescue funding helped narrow credit default swaps on the ailing bank. According to Phoenix Partners Group, five-year CDS on Citi slid 35 basis points to roughly 360 bps.

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