Funds tap relative value trade on Italian bank CDS
Hedge funds have been trading the relative value between credit default swaps on Italian banks UniCredit and Intesa Sanpaolo as UniCredit’s spreads gap wider because of exposure to Russia and Ukraine. On Monday, five year subordinated CDS on UniCredit were trading at 296bp while Intesa Sanpaolo sub CDS traded at 195bp.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
