The empirical relationship between the spreads of Credit Default Swaps and Bonds

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Scientific Essay from the year 2010 in the subject Business economics - Investment and Finance, , language: English, abstract: Warren Buffet, the world's richest man, once said that derivatives are financial "weaponsof mass destruction." a term popularized by George W. Bush to describe nuclear arms.Indeed financial derivatives have a far greater impact on the market than their underlyingdue to their leverage effect. And the most popular and important credit derivativesnowadays are credit default swaps with a current notional value of over 60 trillion USdollars according to ISDA 1 (Internationa...