BargainValueHunter Posted November 17, 2011 Posted November 17, 2011 This page may come in handy over the next several days: http://www.cnbc.com/id/38451750 If you are involved in this trade hold on to your pants! :o http://www.bloomberg.com/news/2011-11-16/morgan-stanley-goldman-credit-swaps-rise-as-fitch-cites-contagion-risks.html The Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, added 2.3 basis points to a mid- price of 134.6 basis points at 5:01 p.m. in New York, the highest level since Oct. 11, according to index administrator Markit Group Ltd. Credit default swaps on U.S. banks rose, led by Morgan Stanley and Goldman Sachs Group Inc. Traders pushed the swaps index higher for a third day as Fitch said that while U.S. lenders have “manageable direct exposures” to Greece, Ireland, Italy, Portugal and Spain, further turmoil poses a “serious risk” to U.S. banks’ creditworthiness. The credit gauge has climbed from a two-month low of 113.4 basis points on Oct. 27 even as economic data signals the U.S. economy may avoid recession.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now