The CDS World Depends on Italy and Spain - Who Knew?

I’m having oodles of fun playing with the new credit default swap data. Just to get things started, here are the top ten registered CDS by net (not gross) notional exposure.

Apparently the future of the financial world hinges on Italy and Spain not defaulting. Who knew?

[via DTCC’s new weekly CDS update]

Comments

[Stimpy:]

NOBODY.

Thats the problem.

2008 Nov 05 01:51 PM

[mcadoo3312:]

Look at how few contracts those are though. Could it be possible they took the insurance out on themselves?

2008 Nov 05 01:57 PM

[Jason Rines...:]

Thanks for posting this data Mr. Kedrosky. It's high time some numbers were discovered and disclosed.

2008 Nov 05 03:04 PM

[Cazimi:]

Interesting - Countrywide + Merrill Lynch + whatever BofA already had would put BofA at either #3 or #2 on this list.

2008 Nov 06 12:13 AM

[Massimo GIA...:]

something is happening:

see this:
ftalphaville.ft.com/bl...
alphaville.ftdata.co.u...

But in the past you published this:

paul.kedrosky.com/arch...

Dou you happen to have un update?

And in Italy we are discussing about this spread Italian/Germans Bond
www.soldionline.it/obb...

As you maybe know Italy is the third government bond market in the world after US and Japan.

I am afraid that under high world competition in placing governments bonds, some countries will suffer and some prophecies may be self-fulfilling (particularly when Governments officials also talk...)

2008 Dec 04 10:16 AM