CHART OF THE DAY: Have You Seen The Spike In US CDS?

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It certainly looks like the chatter about a US “Technical Default” is making some folks nervous.

While yields remain at rock-bottom prices, there’s been a noticeable uptick in 1-year CDS on US debt, notes Markit. As evidence that there’s something unique to the US going on, that spike is not mirrored in the UK. Not only that, volumes on the US have surged as well. Politicians would be wise to pay attention.

chart of the day, cds on us and uk debt, may 2011