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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: YanivBA who wrote (54468)	8/9/2006 10:29:12 AM
From: YanivBA	Read Replies (2) of 116555

When Delphi Corp. filed for bankruptcy on Oct. 8, there were $20 billion of credit default swaps related to its $2 billion of bonds. The imbalance drove up prices of the bonds and forced banks to hold an auction to determine a price to settle the derivatives. It took Moody's Investors Service four months to figure out the impact of the Delphi default on the market for credit default swaps and securities that contain the derivatives. quote.bloomberg.com YanivBA.

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