US Default Swaps Are Now More Expensive Than Brazil, Mexico
- Credit-default swaps on one-year Treasuries soar to record
- Biden, Republican leaders no closer to resolving standoff
The cost of insuring Treasuries against default now eclipses some emerging markets as the American government gets closer to running out of money.
US credit-default swaps are more expensive than contracts on the bonds of Greece, Mexico and Brazil, which have defaulted multiple times and have credit ratings many rungs below that of the US’s AAA.