(Bloomberg) -- Treasuries advanced the most since
February after Standard & Poor's said it may cut credit ratings
on $12 billion of bonds backed by subprime mortgages, sending
investors to the safety of U.S. government debt.
Credit-default swaps, contracts used to speculate on a
company's ability to repay debt, rose to the highest premium in
more than a year in the U.S. and Europe. Stocks dropped on
concern the housing slump will hurt corporate earnings and slow
economic growth.
Read more at Bloomberg Bonds News
February after Standard & Poor's said it may cut credit ratings
on $12 billion of bonds backed by subprime mortgages, sending
investors to the safety of U.S. government debt.
Credit-default swaps, contracts used to speculate on a
company's ability to repay debt, rose to the highest premium in
more than a year in the U.S. and Europe. Stocks dropped on
concern the housing slump will hurt corporate earnings and slow
economic growth.
Read more at Bloomberg Bonds News
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