» credit-default

Jump in sovereign CDS volumes

Seneso Journal — Mon, 23 Nov 2009 05:58:04 +0000

The volume of activity in sovereign credit default swaps linked to the US, UK and Japan have doubled in the past year because of concerns about their public finances.

Read the whole story @ FT Alphaville

CIT Bonds Valued at 68.125 Cents to Settle Credit-Default Swaps

Seneso Journal — Fri, 20 Nov 2009 17:12:16 +0000

Credit derivatives traders settling contracts that protected against a default by CIT Group Inc. set a value of 68.125 cents on the dollar for the commercial lender’s bonds.

The price, the result of an auction by 13 dealers including JPMorgan Chase & Co. and Barclays Plc, means sellers of the swaps will pay 31.875 cents on the dollar to buyers of protection to settle the contracts, according to data from administrator Markit Group Ltd. and broker Creditex Group Inc.

Read the whole story @ Bloomberg

Japanese Corporate Bond Risk Rises, Credit-Default Swaps Show

Seneso Journal — Fri, 20 Nov 2009 17:06:04 +0000

The cost of protecting Japanese corporate bonds from default increased, according to traders of credit-default swaps.

The Markit iTraxx Japan index rose 2.5 basis points to 145.5 basis points as of 9:30 a.m. in Tokyo, according to Morgan Stanley. That’s up from 135 basis points on Nov. 13, CMA DataVision prices show.

Read the whole story @ Bloomberg