Lehman Brothers: a primer on Credit Default Swaps
Given the historic nature of the Lehman Brothers bankruptcy, it bears explaining how the credit default swaps market work and why it matters.
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Where is the global economy headed?
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Initial results of Lehman CDS auction
This comes via Credit Fixings.
The auction process to settle Credit Default Swap trades on Lehman Brothers bonds put the value of the debt at 9.75 cents on the dollar. That is much lower than one would have expected (12 cents on the…
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