Deutsche Bank shares slumped on Friday, putting the health of another globally systemic important bank in the spotlight heading into the weekend.
The German lender’s shares XE:DBK fell 8% in Frankfurt trade, and the Euro Stoxx bank index XX:SX7E fell 4%.The German lender’s shares DBK fell 8% in Frankfurt trade, and the Euro Stoxx bank index SX7E fell 4%.
It should be noted that Deutsche Bank’s 5-year credit-default swap, which was 175 on Thursday, is nowhere near the peak for Credit Suisse, which was 1,194, according to S&P Global data. The higher the value of the CDS, the more likely the market sees the issuer defaulting.
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