A rather stupid blog post from Ambrose Evans-Pritchard at The Telegraph where he claims that the state of California is a bigger bankruptcy risk than Slovakia:
By the way, my colleague Yvette Essen showed me the CDS data on some of the US states. These are quite revealing too. Michigan - 192, California - 165, Nevada - 164, New Jersey - 150, Ohio - 104.So, California is now priced as a greater bankruptcy risk than Slovakia 150.
No shit Sherlock!
Bankruptcy update, Britain plus California [Telegraph]













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