Monday, May 04, 2009

Credit News Is Mostly Better

First the easy stuff: LIBOR is down to 1.007%, (good), A2P2 is down to .56, (good), and the TED spread is down to 86.39 (also good.)

The not-so-easy (and maybe not-so-good): revolvers are going short (you won't find a 5-year easily, if at all) and the pricing is no longer based on credit-rating; it's based on the cost of default insurance.

HT (both): Calculated Risk

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