Troubled banks lead most active CDS

In its September credit derivatives report, GFI shows that Morgan Stanley, Lehman Brothers, Washington Mutual and Merrill Lynch led the most active trading in the US, according to GFI. Banks and financial services were the most active sectors, followed by fixed line telecoms.

Countrywide Home Loans, Gazprom and Nissan were among the most active European names last month. The fixed lines telecoms sector dominated again, led by Telecom Italia, Deutsche Telecom and Telefonica. Gas returned as an active sector as Gazprom joining the most active single names.

In Asia, banking and financial services dominated for the 16th month in a row, led by Hutchison Whampoa, JSC Kazkommertsbank, Mizuho Corporate Bank Sub and Bank TuranAlem. Turkey, Russia and the Ukraine were the three most active sovereigns.