The Fed, ECB, BoJ, BoE, SNB and the Bank of Canada lowered interest rates 50 basis points on dollar swaps, and China lowered its required reserve ratio by 50 bps, the first cut since 2008.

FORBES: Stocks Pause To Digest Mouthful Of Gains

Last year, when Sainsbury was struggling, some of these swaps were priced at 150 basis points per unit of debt insured.

ECONOMIST: Credit derivatives

Spain's credit-default swaps fell by 10.5 basis points.

ECONOMIST: Business this week | The

Mr Mitchell's proposed terms of reference for new talks would have both sides accepting the 1967 border as the basis of a final accord, with land swaps enabling Israel to annex the largest settlements closest to the old border, while the Palestinians would add equivalent tracts to their own state.

ECONOMIST: Peace talks between Israel and Palestine

Credit default swaps on BofA added 17.7 basis points to 355 basis points earlier this afternoon.

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Credit default swaps on Societe Generale were at 169 basis points, up from 167 basis points, and on BNP Paribas were at 157 basis compared to 115 basis points in the fall of 2008.

FORBES: Lehman Now Looks Like A Piece Of Cake

On Wednesday credit default swaps that insure GE Capital's debt jumped 110 basis points, to 500 basis points, according to pricing service Markit Intraday.

FORBES: Market Scan

Bill prices receded by seven ticks and the swaps market pointed to additional central bank tightening of 27 basis points over the next 12 months compared to 18 basis points earlier this week.

FORBES: Commodities Undeterred By ECB Rate Hike

The spread on five-year credit default swaps took less time to decline to normal (around 300 basis points) after tripling in 2008.

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