Tuesday, July 26, 2011

ISDA Appears to Backtrack on Treasury CDS

David Geen, General Counsel of ISDA, tells Bloomberg today that, if Treasury missed an interest payment, that would be a trigger credit event for credit default swaps on U.S. Treasury securities.  This is different from what Reuters yesterday quoted him as saying.  One can only speculate about why he changed his position.

Click here for the Bloomberg video.

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