Reuters
is reporting that five-year swaps on Morgan Stanley fell by 108
basis points to 890 basis points, or $890,000 a year to protect $10
million of debt, while Wachovia's swaps fell by 47 basis points to 700
basis points, according to data from CMA DataVision.
Talk of a Morgan/Wachovia tie-up also eased things for Goldman Sachs, the
only other remaining independent investment bank. After days of seeing
the spread on its credit default swaps soar, Goldman Sachs' swaps fell
by 90 basis points to 530 basis points. On Tuesday, the spread on
Goldman's swaps
were wider than those of Lehman Brothers Inc.'s a week ago,
according to Aleablog.com. - George White
See Reuters storySee Dealscape post on Morgan and Goldman CDS
