At one point, the ten-year swap spread reached 71.5bps, though it has fallen sharply since then.

ECONOMIST: Buttonwood

Now to be fair, there are some marginal benefits associated with this capital swap, which I am sure the company would point out if asked.

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The point is that Bankia can take those 19bn euros of Spanish government bonds and swap them for cash at the European Central Bank.

BBC: No magic potion for eurozone banks

Ferrari president Luca di Montezemolo insisted he would not swap the English 2008 world champion for Felipe Massa, who lost the title to Hamilton by a single point.

BBC: F1 stars may have to take pay cut

Dive into the crowd at MacWorld gathered around Apple's latest product, the MacBook Air, and they'll quickly point out what could be the wafer-thin machines biggest flaw: Users can't swap in fresh batteries. (See: " Into Thin (MacBook) Air") That could be a deal-breaker for road warriors looking for a lightweight notebook.

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