"Goldman, Merrill Almost `Junk,' Their Own Traders Say "
Bloomberg Article
http://www.bloomberg.com/apps/news?pid=email_en&r…
Anyone care to take a gander?
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bloomberg writers are retarded. i would not trust anything they say/write.
agreed in general but he's right about what the cds implies
so brokers trading at 35bps implies they are junk?
no, but you can bench them against comparable CDS spreads.
the question of the absurd tightness of cds spreads is a different story.
or could be saying rating agencies have no clue anymore.
so huh, where do u stand, CDS market is "wrong" or rating agencies?
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