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CDS Sprinting upward

|Includes: BAC, DTEGY, MFG, S, Sprint Corporation (S), ZTCOF

Sprint Nextel credit default swaps reached new 6-month highs over the last week rising about 13.4 bps on Wednesday and another 7.6 bps on Friday to 376.6 bps. The swaps are feeling the tertiary effects of WiMax 4G wireless operator Clearwire’s dire warnings about a possible cash shortage next year.

Disclosure: long all stocks