Thursday, October 23, 2008

Taking a gamble on emerging markets

Sovereign spreads blowing out even more this afternoon.

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While on the subject of gambling, Las Vegas Sands (LVS) is looking a bit Lehman-like. Actually, the 5 year senior Lehman CDS at the point it went poof! topped out at a mere 707pts...

What's a good sign of being a dead man walking... trying to sell a flagship asset, maybe? Like Neuberger Berman... or the Macau Four Seasons, say?

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