No relief for Lehman

September 10, 2008 12:00 am

Despite the initial enthusiastic response of the credit markets to the GSE bailout, there are still problems — most of them called Lehman Brothers. The broker’s CDS gapped out by 125bp to 420bp/450bp, in line with the Bear Stearns highs of March as news of the collapse of the KDB deal swept the market.

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