Quarterly update from CMA DataVision
Add:
before you ask: U.K. 21st, implied rating aa
CMA Global Sovereign Credit Risk Report, 1st Quarter, 2010
- This Is From The Wall Street Journal
- Momentum in Stock Market Returns: Implications for Risk Premia on Foreign Currencies
- Links
- DTCC Posts 6-Month Market Activity Snapshot on CDS Market
- Default in Today’s Advanced Economies: Unnecessary, Undesirable, and Unlikely
- The Impact of Banks’ Cumulative Reserve Position on Federal Funds Rate Behavior
- A Wolf in Sheep’s Clothing
- TBA Trading and Liquidity in the Agency MBS Market
- Impact of High and Growing Government Debt on Economic Growth
- Financial Amplification of Foreign Exchange Risk Premia
- The Central-Bank Balance Sheet as an Instrument of Monetary Policy
- Exorbitant Privilege and Exorbitant Duty
- The Information Value of the Stress Test and Bank Opacity
- Price of Risk—Recent Evidence from Large Financials
- Shadow Banking
- Summer Doldrums
- Credit Default Swaps: What Are the Social Benefits and Costs?
- The International Role of the Euro
- Chronicle of Currency Collapses: Re-Examining the Effects on Output
- The Paradox of Toil
- Links
- What the Fed Did and Why
- Markets and Government Before, During and After the 2007-20xx Crisis
- Detecting and Interpreting Financial Stress in the Euro Area
- Are We Building the Foundations for the Next Crisis Already? The Case of Central Clearing
- Links
- Links
- OIS Discounting
- Multimarket Trading and the Cost of Debt: Evidence from Global Bonds
- Is Economics Coursework, or Majoring in Economics, Associated with Different Civic Behaviors?
- China’s High Saving Rate: Myth and Reality
- Oil Spill
- Eurozone €440 Bln SPV Aid Fund
- ECB Financial Accounts and ECB Financial Strength
- Central Bank Swap Networks
- DTCC Posts CDS Market Activity Snapshot
- ECB: Financial Stability Review (June 2010)
- Global CDO Issuance by Transaction Structure
- Links
- TBAC Minutes: Sovereign CDS and Swap Spreads
- Goldman Sachs Underwriting Market Shares in Subprime RMBS and CDOs
- Abacus for Dummies
- The World’s Safest and Riskiest Sovereign Debt (Update)
- Increased Sovereign Risk Behind Negative Swap Spreads
- Haircuts
- Markets, Religion, Community Size, and the Evolution of Fairness and Punishment
- Beyond the Dollar: Rethinking the International Monetary System
- Links
- Amazing Discovery
- ABCP Outstanding: Still Crashing
Hi Ken,
Re Iraq: At CMA we provide pricing when we see ‘sufficient’ liquidity in terms of quoting activity around a name. If markets stop being made on the Iraqi CDS, we would not offer pricing on it (this happened last year with the sovereign for Costa Rica, for example). You are welcome to contact me directly for more information.
Hi Jesse,
CMA tracks about 80 sovereign CDS, so not all nations are covered. Whilst you would not expect there to be a CDS for somehwere like Somalia, it often surprises people when we tell them there is no CDS for larger economies like Canada or India. Rest assured, if we see them quoted in the market we will start providing pricing.
Canada isn’t quoted as a CDS.
They’re only showing the top and bottom ten, Jesse.
The previous #4 and #9, France and Belgium, fell out of the Top Ten, with France taking the largest fall of any country that was not officially downgraded.
Iraq qualifies only because there is now enough liquidity in the index–that may be election-related, so if they fall off next quarter, it probably won’t be because they’re creditworthy.
Why doesn’t this “global” report not list Canada?