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Credit Default Swaps for European Sovereigns


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This page may come in handy over the next several days:




If you are involved in this trade hold on to your pants!  :o




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.

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