BP Default Swaps Soar to New Record

by Benjamin Domenech on 5:47 am June 10, 2010

Bankrupt Petroleum? “The cost to protect BP Plc bonds against default rose to a record. Credit-default swaps on the Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, rose 2.5 basis points to a mid-price of 132 basis points.”

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