Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (91639)	11/27/2009 11:03:01 AM
From: fred woodall	1 Recommendation Read Replies (1) of 94695

Dubai was mentioned on the wires Wed. but it seemed the market wasn't paying attention. "Debt" is mentioned so often these days it has become the buzz word in the new economy. Market talk per DJ Wire: Dubai's sovereign debt CDS price recently spiked up close to 600 bps, but that level isn't even close to the 1,000 bps seen earlier this year, according to Bespoke Investment Group. The news is getting more attention this time around because it's an isolated event. But back in February, "default risk was spiking for the majority of developed nations as well, so Dubai was the least of our problems," firm says. "Now that global markets have stabilized and exited crisis mode, an isolated event in Dubai where default risk doesn't even spike to its 2009 highs has caused a global market selloff." bespokeinvest.com

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