(an email exchange)
> On Tue, Jul 15, 2008 at 11:03 AM, Mike wrote:
>
> Should we be looking at selling protection on USTs for 20bps?
>
makes sense
And makes even more sense for the Fed to be selling it:
- free money (really sort of a tax for those who want to pay it, but whatever)
- assists market functioning
>
>
> Sov CDS: ny open 15Jul08
>
> Credit 5yr 10yrket Credit 5yr 10yr
> Austria 12.5/15.5 17.0/18.5 Ireland 27.5/30.5 37.0/39.0
> Belgium 19.0/22.0 26.5/29.0 Italy 41.0/43.0 51.5/53.5
> Denmark 10.0/12.5 15.0/17.5 Nether 10.5/12.5 15.0/17.0
> Finland 10.0/12.5 15.0/17.5 Portug 38.0/40.0 48.0/50.0
> France 11.0/13.0 15.0/17.5 Spain 38.0/40.0 47.5/49.5
> Germany 6.0/8.0 9.75/10.75 Sweden 10.5/12.5 15.0/17.0
> Greece 51.0/53.0 61.5/63.5 UK 14.5/17.5 21.0/24.0
> Iceland 250/290 240/300 US 14.5/18.5 19.0/25.0
>
>
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