Default Swaps Hit Record With Bonds at Year Low: Japan Credit
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The cost of insuring Japan’s debt against default has risen to a record amid concern that Europe’s debt crisis will spread beyond the region.
Credit-default swaps tied to the nation’s bonds for five years surged 12 basis points to 136 basis points as of 10:53 a.m. in Tokyo, Citigroup Inc. prices showed. That’s on course for the highest on record in CMA data going back to October