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US default risk: Are credit default swaps signalling trouble?

A Western Asset product specialist says rising credit default swap (CDS) spreads have sparked concerns. However, he downplayed the risk of a US default, calling it a "very low probability event".

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Read more: Credit default swapUS defaultUS TreasuryWestern AssetEconomicsFederal ReserveFranklin TempletonRobert Abad