Market Currents
Referring to developing countries as "the darling of the market," and saying the rush out of...
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Monday, January 3, 2011, 4:45 PM ETReferring to developing countries as "the darling of the market," and saying the rush out of municipals is "overdone," a Citigroup strategist recommends buying cheap CDS on countries like Brazil while selling expensive protection on wealthy states like Connecticut and New Jersey.
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Connecticut's Governor resigns while leading the State with the highest per capita Debt in the Union.
Meanwhile businesses flee the most anti-business state in droves.
All one has to do is listen to the new Governor Elect's campaign commercials. " Greedy Businessmen caused the Economic Crisis"
Connecticut may have some rich people, but the State is Broke.
Then they send The attorney General that allowed it to go on, to Washington as a Senator to do more damage.
Connecticut is worse than Greece.
should be institutionalized.
Isn't that what got us into this mess in the first place?
Yeah, pray, tell how an individual investor can purchase any sovereign credit default swap??? Short answer- they simply can't! Only about a dozen or so of the worlds largest banks and fin. institutions horse-trade these things back and forth.
These things usually trade in minimum $10m increments and are only accessible to a very small cadre (or cabal, if you like) of financial behemoths.