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paologorgo · 21-09-2009, 18:52

US stock markets rose about 2.5% last week, but the biggest news came in the credit markets where default risk had its biggest weekly decline since the March equity market lows. Below is a one-year chart of a credit default swap (CDS) index that measures default risk for 125 North American investment grade entities. We also overlay a chart of the S&P 500. As shown, the CDS index fell 27% last week to a new 52-week low. Since the peak in default risk, the CDS index shown below is now down 53.38%. It is also at its lowest levels since last June. If the S&P 500 were to get back to its June '08 levels, it would need to rally more than 20% from here.

click to enlarge

http://seekingalpha.com/article/1625...rply-last-week

21-09-2009, 18:52	#1894 (permalink)
paologorgo Chapter 11 Data registrazione: May 2004 Località: Carpi - MO - Messaggi: 4,132	US stock markets rose about 2.5% last week, but the biggest news came in the credit markets where default risk had its biggest weekly decline since the March equity market lows. Below is a one-year chart of a credit default swap (CDS) index that measures default risk for 125 North American investment grade entities. We also overlay a chart of the S&P 500. As shown, the CDS index fell 27% last week to a new 52-week low. Since the peak in default risk, the CDS index shown below is now down 53.38%. It is also at its lowest levels since last June. If the S&P 500 were to get back to its June '08 levels, it would need to rally more than 20% from here. click to enlarge http://seekingalpha.com/article/1625...rply-last-week __________________ Amorgos for moderator!