Insurer CDS spreads tighten on Tarp promise
Market sentiment improved significantly towards US insurers after the Treasury granted permission to a select number of firms to raise billions of dollars through the government's Troubled Asset Relief Programme (Tarp).
The cost of credit protection on Prudential Financial dropped to 529.2bp from 667.2bp, while spreads on MetLife were trading at 485.9bp from 605.8bp.
In the financial
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