Cost of protection for Sears surges following poor earnings

The earnings statement sent its stock price plunging 32% to a 12-year low, and rating agency Fitch quickly placed the company on negative watch. The credit was priced at 300/340bp in the credit default swap one week ago. It tightened back to 250bp-mid earlier this week as renewed positive sentiment accompanied the rally in global equities. Only two weeks ago five-year protection was priced at 160/170bp.

Volatility was also seen in US autos this week as Standard and Poor’s downgraded General M

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: