Counterparty risk is at the core of current woes |
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Overview Counterparty risk is at the core of current woes. Credit Default Swaps and Credit Spreads have widened, $200B has been withdrawn from the Commercial Paper market (total now $1,600B), top names cannot issue bonds, Corporates draw down existing Credit Lines and Hedge Funds lock investors in for months. Big moves in many instruments have ensured that implied volatility is close to its highest in at least fifteen years, the Euro’s one-month at-the-money hitting a record 17.9% as it
Filed under: Fundamental
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