Treasury credit default swaps rise dramatically

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As you would expect, the market sees the U.S. Government as much less creditworthy. Note the rise in credit default swaps on U.S. Treasuries.

The question is: when will its foreign government supporters abandon a sinking ship.

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This is from FT Alphaville, a great blog site by the FT:

Pace Jim Rogers.

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Actual numbers: cost of protecting U.S. government debt up 2 basis points to 22bp at close Tuesday, exceeding March all-time-high of 20bp. HT Alea: “In normal times, the spread [full stop] is less than 2bp.”

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