Credit Suisse 5Y CDS jumped up to 1,287.27 from yesterdays 571.59 (+125.20 %)

by Kaarothh

Source: https://www.boerse.de/derivate/credit-spreads/

Its how much it costs annually to insure an investment in credit suisse. In basis points

So 1000 basis points is 10% – if you want to insure your $1m investment into credit suisse you have to pay $100k yearly for a 5 year insurance

Which means the insurer thinks theres about a 50% chance that the bank doesnt exist in 5 years

At least thats how I understand it.