"The yield on 10-year Italian bonds is back over 6% following a weaker than
expected bond auction. Who wants to load up on Spanish, Portuguese, or Italian
bonds if they cannot hedge with credit default swaps?
No ISDA Ruling Yet
Everyone is acting as if the International Swaps and Derivatives Association (ISDA) has issued a ruling on on whether 50% haircuts forced at gunpoint are "voluntary", but there is no official ruling yet, only hints..."
at http://globaleconomicanalysis.blogspot.com/2011/10/fitch-says-50-haircuts-would-constitute.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
No ISDA Ruling Yet
Everyone is acting as if the International Swaps and Derivatives Association (ISDA) has issued a ruling on on whether 50% haircuts forced at gunpoint are "voluntary", but there is no official ruling yet, only hints..."
at http://globaleconomicanalysis.blogspot.com/2011/10/fitch-says-50-haircuts-would-constitute.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
