Trade Deutsche's bonds against its CDS, suggests BNP

BNP Paribas' credit research team see an opportunity for a trade in Deutsche Bank's bonds and CDS 

TAGS: Financials

Comment by: Anonymous. Posted 9 years ago [2015-02-27 23:58:33]

Agreed!

Comment by: Anonymous. Posted 9 years ago [2015-02-27 14:26:49]

The premise is that an AT1 is roughly the same as sub debt. I find this doubtful. AT1s are more like fake equity.

Comment by: Anonymous. Posted 9 years ago [2015-02-27 00:35:31]

There may be good reason for DB AT1 bonds to be cheap .... and they won't be fixed by shorting the sub debt.