UBS credit default swaps hit decade high after Credit Suisse blow out

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UBS five-year credit default swaps (CDS) rose 12 basis points from Friday’s close to 118 bps, its highest level since 2013, data from S&P Global (NYSE:SPGI) Market Intelligence showed.

Credit Suisse CDS last stood at 335 bps, well above Friday’s close of 250 bps but below the 355 bps hit earlier on Monday.