UBS Credit Default Swaps Going Vertical

UBS credit default swaps have doubled since news broke that it would rescue Credit Suisse 🚨
Why?
The risk isn't gone, it has only been transferred to a different balance sheet.
This crisis is far from over. pic.twitter.com/Gv19mbi44P
— Joe Consorti âš¡ (@JoeConsorti) March 19, 2023