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Bank of America Credit Spread: FUGLY

Posted By Barry Ritholtz On August 23, 2011 @ 12:30 pm In Bailouts,Credit,Derivatives | Comments Disabled

This is pretty damned FUGLY: Click for larger graphic

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click for larger chart
[1]

Mark Gongloff explains the pain:

“In the credit-default swap market, spreads are wider across the board, meaning people are paying up for protection. The Markit investment-grade corporate debt index is 3 basis points wider. The index of European sovereign debt is 10 basis points wider. The index of European financials is also 10 basis points wider.”

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Source:
Bank of America CDS Spread Nears Record As Credit Market Misses Rally Memo [2]
Mark Gongloff
Marktbeat, August 23, 2011, 9:05 AM
http://blogs.wsj.com/marketbeat/2011/08/23/credit-misses-rally-memo-bank-of-america-cds-approaches-record/


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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/08/BAC-crdit-spreads.jpg

[2] Bank of America CDS Spread Nears Record As Credit Market Misses Rally Memo: http://blogs.wsj.com/marketbeat/2011/08/23/credit-misses-rally-memo-bank-of-america-cds-approaches-record/

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