User: TnRevolution: Zero Hedge: Credit Markets Signal Bigger Fear Of Treasury Default Than In 2011 | Zero Hedge
Credit Markets Signal Bigger Fear Of Treasury Default Than In 2011...
The cost of 1Y protection has surged higher than the 5Y protection - something we have only seen in the summer of 2011. However, this time it's different as the inversion is even greater than in 2011 - although not the most liquid instrument in the world - implying a greater chance (albeit a small probability) of a postponed payment in US Treasuries.
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