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Chocolate coins are now deemed safer than gilts
As Alistair Darling produced his Budget goodies on Wednesday, he would have done well to peek at something which might be dubbed the “chocolate” metric.
This refers to a corner of finance known as the credit default swap – the derivatives market where investors buy protection against a debt default. In recent months the cost of insuring against a default on UK gilts has surged as investors have fretted about the ever-spiralling levels of British debt.
http://www.ft.com/cms/s/0/1e8cd910-2...44feabdc0.html
As Alistair Darling produced his Budget goodies on Wednesday, he would have done well to peek at something which might be dubbed the “chocolate” metric.
This refers to a corner of finance known as the credit default swap – the derivatives market where investors buy protection against a debt default. In recent months the cost of insuring against a default on UK gilts has surged as investors have fretted about the ever-spiralling levels of British debt.
http://www.ft.com/cms/s/0/1e8cd910-2...44feabdc0.html