(Bloomberg) -- The risk of owning the bonds of
JPMorgan Chase & Co. and Goldman Sachs Group Inc. jumped after
the banks got stuck with $10 billion of Chrysler loans that
investors refused to buy.
Credit-default swaps on $10 million of JPMorgan bonds jumped
$7,000 to $50,000 as of 2:34 p.m. in New York, according to
broker Phoenix Partners Group. Goldman credit swaps surged almost
$7,000 to $68,000, the highest since November 2002. An increase
in the five-year contracts, used to bet on the company's
creditworthiness, signals deterioration in investor confidence.
Read more at Bloomberg Bonds News
JPMorgan Chase & Co. and Goldman Sachs Group Inc. jumped after
the banks got stuck with $10 billion of Chrysler loans that
investors refused to buy.
Credit-default swaps on $10 million of JPMorgan bonds jumped
$7,000 to $50,000 as of 2:34 p.m. in New York, according to
broker Phoenix Partners Group. Goldman credit swaps surged almost
$7,000 to $68,000, the highest since November 2002. An increase
in the five-year contracts, used to bet on the company's
creditworthiness, signals deterioration in investor confidence.
Read more at Bloomberg Bonds News
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