Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Citigroup October Credit Note

Friday, October 14, 2016 15:48
% of readers think this story is Fact. Add your two cents.

Citigroup’s Credit Derivative Strategist Anindya Basu dropped a 84 page note on US Credit Derivatives after Friday’s close. Readers ought not to feel alone if they think the dog pile is beginning in the wake of Wells Fargo’s utter disaster. As we said in early August:

“And with Buffett unwinding, something must be accumulating a position. One possible suspect is Citigroup. According to a Bloomberg report on Friday, Citigroup, the U.S. bank with the most derivatives, purchased a portfolio of credit-default swaps from retreating rival Credit Suisse Group AG, two people with knowledge of the matter said.”

As if we needed any confirmation that those purchases are being done with cheap credit and not cold-hard cash, there’s this gem from Basu’s note under the title The Turning of the Credit Cycle: Worrying Signs. Nice of them to share it “ex fin”…

To really put your mind at ease consider the face that capital is fleeing the high yield market leaving only a few players controlling the market:

Sleep well, we’re sure Stumpf is.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.