Investors looking for protection against a U.S. debt default could be in for a surprise. In the market for credit default swaps, it is currently more expensive to buy one-year insurance on Treasurys than on "junk"-rated Indonesian bonds, reports the Wall St Journal.
The unexpected price differential is one of many quirks of the market for U.S. credit default swaps, a small corner of the financial system that has been thrown into the spotlight by Washington's tortuous talks over raising the debt ceiling….
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http://online.wsj.com/article/SB10001424053111904233404576462461660747244.html?mod=business_newsreel
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