US sovereign CDSs hit 100
The cost of credit protection on US national debt reached an all-time high in intraday trading amid expectations of further government bail-outs.
Five-year senior credit default swap (CDS) spreads referencing the US reached a record 100 basis points at 2:15pm London time today, out from 99.4bp at the close of New York trading yesterday, according to data from credit information specialist CMA Datavision.
A number of US firms are reported to be seeking billions of dollars in government aid. Troubled insurance giant AIG, expected to announce huge fourth-quarter losses next week, might require a significant top up to the $150 billion it
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