The cost of insuring Treasuries rose five basis points to 54.5 basis points, according to CMA prices for credit-default swaps.
Credit-default swaps' were the primary cause of the financial collapse in 2008.
Italian five-year CDS was 69 basis points wider at 512 basis points, nearing its record of 521 basis points hit on Sept. 21, according to data-provider Markit.A CDS is a credit default swop - a form of insurance of mind-bending complexity. You can see a short video explanation here.
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