United States More Risky Than Campbell Soup
From Bloomberg
The cost to hedge against losses on
U.S. Treasuries surpassed the price of default protection on
bonds from Campbell Soup Co. and drugmaker Baxter International Inc. as government spending on stimulus packages grows.
Credit-default swaps on U.S. government debt in euros for five years are trading at 67 basis points, according to CMA Datavision, meaning it costs 67,000 euros ($87,24 0) to protect 10 million euros of debt. Contracts on Campbell of Camden, New Jersey, were quoted at a mid-price of 50.4 basis points today, and Deerfield, Illinois-based Baxter contracts were at 54.2 basis points, CMA data show.
Isn't that wonderful?
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