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THOUGHT FOR THE DAY!

" One in 10 chance perhaps, but save Chile! ... not concerned with risks involved ... $10,000,000 available, more if necessary ... make the economy scream."-- CIA Director Richard Helms, discussing plan to destabilize government of Chile under democractically-elected President Salvador Allende

 

Inverted CDS curve shows fear of shock default

The spread curve of Europe's main credit derivatives index inverted for the first time in its history this week, indicating a higher cost for buying credit protection in the short term as dealers priced in the potential for a shock default by an investment grade company.

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