Bespoke's Bank and Broker Default Risk Index

We created the Bespoke Bank and Broker CDS (credit default swap) Index during the financial crisis to track changes in default risk for the largest financial firms around the world.  While the crisis of 2008 has passed, we still find it very useful to track this index since changes in the credit markets many times lead changes in stock prices.

So what has default risk for the major financial firms been doing lately?  Below is a chart of our index going back to 2010.  As shown...

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