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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	11/1/2011 8:12:40 PM
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Fortress Favors Hu Over Sarkozy in Swaps By Kyoungwha Kim and Lilian Karunungan - Nov 1, 2011 French President Nicolas Sarkozy’s decision to turn to China last week to help bolster European finances comes as traders of credit-default swaps step up bets that the Asian nation has less risky debt than his country. Five-year contracts protecting China’s bonds from non-payment tumbled 70 basis points in October to 129, the biggest monthly drop since March 2009, CMA prices show. Contracts for France slid 11 basis points to 176. Don Hanna, a managing director at New York-based hedge fund Fortress Investment Group LLC, says he favors selling protection on China and buying insurance on France. bloomberg.com

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