Wachovia CDS Widens On CMBS Default Fears

Credit default swaps on Wachovia Corp. widened to 310 basis points yesterday after starting the week at 273 bps, with one senior New York trader attributing the leap partly to the decline in the CMBX Index

  • 22 Aug 2008

--Katy Burne

Credit default swaps on Wachovia Corp. widened to 310 basis points yesterday after starting the week at 273 bps, with one senior New York trader attributing the leap partly to the decline in the CMBX Index, which tracks commercial-mortgage backed securities. As the index lowers due to ...

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