Dollars and Jens
Friday, October 17, 2008
Lehman CDS
It looks pretty clear now that the vast majority of cash due on Lehman CDS settlement is going to be paid.

Incidentally, TED is down to 359bp. I keep hearing "the worst isn't over yet", which I think means these people are either pessimists or insouciant toward the English language; in any case, there's a reasonable chance that the very worst is behind us, but I wouldn't count on things being a lot better really soon.

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