- Deutsche Bank Is Back: 5 Year Sub CDS Soar To Record High
by Tyler Durden, www.zerohedge.com , 11 Feb 2016
“Worse than Lehman” is how one European bond market trader described the carnage this week as the brief respite that ECB monetization and debt-buyback rumors provided yesterday have morphed into utter destruction this morning. European (and US) banks are a sea of contagious red with Deutsche Bank the tip of the collapse spear. Credit risk on Deutsche has exploded this morning with Sub CDS trading up 85bps to a record high 540bps… eerily reminiscent of the pre-Lehman bankruptcy week in 2008.
Time to panic now?