BIS reports 42% uptick in CDS

Outstanding volumes of CDS rose 42% to $29 trillion in the second half of 2006, the Bank for International Settlements (BIS) reported in its quarterly review published today.

That’s more than double the amount at the end of the previous year when notional outstanding volumes were just under $14 trillion.

It took until late May for the high-yield credit markets to recover from the turbulence that disrupted the market in February and early March, the review noted – somewhat longer than the investme

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