Global banks curb hedge fund bets on SK Hynix (000660 KS) and Samsung Electronics (005930 KS), Bloomberg reports
- Global banks including Citigroup (C), JPMorgan (JPM), Goldman Sachs (GS), Bank of America (BAC), BNP Paribas (BNP FP) and UBS (UBSG SW) are raising financing costs and restricting leveraged swap trades on SK Hynix and Samsung Electronics, which have risen more than 200% and 175% respectively this year, while Morgan Stanley (MS) is declining new swap trades in the two stocks entirely
- Swap financing rates have increased to 300bps to as much as 11% over SOFR (up from 100-200bps above SOFR in early May)
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