Carson Block Says He’s Shorting Standard Chartered Debt
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Carson Block, the short-seller who runs Muddy Waters LLC, said he’s betting against the debt of Standard Chartered Plc because of “deteriorating” loan quality, triggering a 13.5 percent jump in the cost of insuring against losses on the debt of the British lender.
“We think the market misunderstands the amount of risk that’s presently in the book,” Block said at a conference in Las Vegas on May 10.