Bond Risk Plummets On Geithner Plan

24 Mar 2009

Credit default swaps on corporate bonds plunged after U.S. Treasury Secretary Timothy Geithner announced details of the Public-Private Investment Plan.

Credit default swaps on corporate bonds plunged after U.S. Treasury Secretary Timothy Geithner announced details of the Public-Private Investment Plan. The Markit iTraxx Crossover Index of mostly high-risk companies tumbled 40 basis points to 870 bps, according to JPMorgan Chase. Other benchmarks fell by smaller amounts.

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