There were no signs that investors’ worries about the future of the Swiss lender were lessening as shares of Credit Suisse fell to new record lows and the cost of insuring its debt reached a new high.
Shares of Credit Suisse (CSGN. S) were down more than 1%, marking the stock’s ninth straight session in the red. Since the year’s beginning, the price of the shares has fallen by 66%. Despite suffering a 30% decline, the rights for Credit Suisse’s 2.24 billion franc cash call were up 1%.
S&P Global Market Intelligence reports that the cost of insuring the exposure to its debt has reached a record high of 409 basis points (bps), up 2 bps. The year had begun with Credit Suisse credit default swaps.
