European ETFs With Credit Suisse Bond Wipeout
Swiss regulators eradicated Credit Suisse's ($CS@Switzerland) riskier bonds, leading to a decline in London-listed ETFs that track risky bank bonds. Credit Suisse's additional tier 1 bonds, worth approximately $17.3 billion, will be entirely written off as a result of UBS's acquisition of the company. Prices for European AT1s fell on Monday, along with ETFs. An AT1 ETF from WisdomTree declined by about 8.3 percent, while an Invesco ETF dropped nearly 13 percent.