Earlier today, the published data on economic growth in France in the 2nd quarter of 2011. The data reflected a zero growth compared with the 1st quarter, when GDP grew by 0.9%. Economists had forecast growth of 0.3% in Q2. Interestingly, the cost of credit default swaps on French bonds with the highest rating of AAA for the last 6 weeks has doubled to 169.8 basis points more than 3 times the value of CDS for U.S. Treasury bonds, despite the fact that the S & P has deprived the U.S. of the highest credit rating, which had been lowered to AA +. Recall that the cost of 1 basis point is $ 1000 a year for insurance for every 10 million of debt. Accordingly, the cost of insurance against default at 10 million 5-year French bonds rose to 169 800 dollars per year, while similar to the cost of insurance against default of U.S. bonds is 52 500 dollars in god.Istochnik: Forexpf.Ru - Forex Market News
