Bond Insurance Market Evolving, Not Dying
By Dave Clarke
Published December 6 2011 Reuters
The failure of credit default swaps to pay out to bondholders burnt by Greece should have spelt the beginning of the end for a bond insurance market accused of exacerbating Europe's debt stresses. That it may not underscores just how much investors have learnt to use the much-maligned derivatives for other purposes than purely guarding against default.
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