"Bank of America (BAC) shares have taken a huge hit recently, pushing its price-to-book close to financial crisis levels. Bank of America (BAC) credit default swaps are also getting very close to their financial crisis highs, which is pretty crazy.
The high for BAC 5-year CDS back in early 2009 was 395 basis points (or $395 per year to insure $10,000 worth of BAC debt for 5 years). Yesterday, BAC 5-year CDS hit 380 basis points. Is it headed for 400?
at http://seekingalpha.com/article/289360-bank-of-america-default-risk?source=feed
The high for BAC 5-year CDS back in early 2009 was 395 basis points (or $395 per year to insure $10,000 worth of BAC debt for 5 years). Yesterday, BAC 5-year CDS hit 380 basis points. Is it headed for 400?
at http://seekingalpha.com/article/289360-bank-of-america-default-risk?source=feed
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