US Treasury 10-yr CDS hits record high
By Emelia Sithole-Matarise
Dec 1, 2008 6:19am EST
LONDON (Reuters) - The spread or risk premium on 10-year U.S. Treasury credit default swaps hit a record high on Monday, extending a recent trend as market participants continued to fret about the scale of the government's financial rescue programmes.
Ten-year U.S. Treasury CDS widened to 68.4 basis points from Friday's close of 60 basis points, according to credit data company CMA DataVision.
Five-year Treasury CDS widened to 52.5 basis points from 46 basis points at Friday's close, it said.
“Modern tyranny is terror management. When the terrorist attack comes, remember that authoritarians exploit such events in order to consolidate power. The sudden disaster that requires the end of checks and balances, the dissolution of opposition parties, the suspension of freedom of expression, the right to a fair trial, and so on, is the oldest trick in the Hitlerian book. Do not fall for it.”
Timothy Snyder, On Tyranny