Bloomberg News

U.S. Two-Year Interest-Rate Swap Spread Reaches Least Since 1993

October 16, 2012

A measure of stress in U.S. credit markets reached the lowest level in 19 years.

The U.S. two-year interest-rate swap spread narrowed 1.62 basis points to 9.13 basis points, as of 12:23 p.m. in New York, according to data compiled by Bloomberg.

That’s the lowest level on an intra-day basis since Sept. 28, 1993, for the measure, which falls when investors favor assets such as corporate bonds and rises when they seek the perceived safety of government securities.

To contact the reporter on this story: John Parry in New York at jparry5@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net


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