• Most Popular
  • Most Shared

Lehman debt protection costs jump as shares dive

NEW YORK
Fri Jul 11, 2008 10:27am EDT

NEW YORK (Reuters) - The cost to insure Lehman Brothers LEH.N debt against default surged on Friday, as its stock price plunged for the second day.

Hot Stocks

Credit default swaps on Lehman Brothers debt widened 55 basis points to 380 basis points, or $380,000 per year for five years to insure $10 million in debt, according to Phoenix Partners Group. Lehman's stock also plunged more than 14 percent.

(Reporting by Karen Brettell; Editing by James Dalgleish)
Hot Stocks


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets