MarketWatch
Credit Suisse shares hit fresh record low
Credit Suisse stock (CH:CSGN) hit a another record low on Thursday, as investors remained wary of the bank’s prospects despite a recent 4 billion Swiss franc ($4.2 billion) capital injection. The bank’s 5-year credit default swap spreads, which measure expectations of possible default, at one point jumped to fresh highs near 450 basis points, up from around 50 basis points a year ago. The embattled lender last month revealed it would likely deliver a fourth quarter loss of up to CHF1.5 billion, its fifth consecutive quarter in the red, after a slowdown in investment banking earnings and as wealthy clients withdrew nearly 10% of assets, or some CHF64 billion, since the beginning of October.