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© Reuters. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann/File Photo
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© Reuters. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann/File Photo
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LONDON (Reuters) – The cost of insuring exposure to debt issued by Swiss lender UBS rose to a decade high on Monday after peer Credit Suisse was caught in the market spotlight amid concerns about its ability to revamp its business and bolster its capital.
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:) 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.
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