The Light Entertainment at the End of the Tunnel. Ridin' that train... yes, that train...

Thursday, October 02, 2008

Insurers Next?

Investors jittery after Sen. Reid insurer comment | Reuters

US SWAPS-2Y spread hit record as stocks end sharply lower | Markets | Markets News | Reuters


Five-year credit default swaps on MetLife Inc (MET.N: Quote, Profile, Research, Stock Buzz)
rose to 11.5 percent upfront, or $1.15 million a year to protect $10
million of debt, plus $500,000 in annual premiums, according to data
from Markit Intraday. The swaps had closed at 514 basis points on
Wednesday.

Hartford Financial Services Group's (HIG.N: Quote, Profile, Research, Stock Buzz) swaps rose to 10.5 percent upfront from 520 basis points.

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