Traders glimpse daylight as Fed rescue of Bear sinks in

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Traders glimpse daylight as Fed rescue of Bear sinks in

March 28, 2008 12:00 AM

Credit markets now trust that brokers will not be allowed to fail. While it is too early — much too early — to speak of the credit markets having turned a corner out of the dark alley that has held them for eight months, this week there was a distinct and unambiguous recovery in the credit default swap market.

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