Derivatives investors bet against Ford/GM default

Newswire

by David Wigan LONDON, April 28 (Reuters) - Investors in complex credit derivatives are betting against defaults by troubled U.S. car makers Ford and General Motors , declining to sell or hedge an estimated $10 billion of exposure to the troubled U.S. car makers, bankers at JP Morgan said. However, few are looking to add risk on either company, seeking alternative credits to build new structured investments such as collateralised debt obligations (CDOs). "A loss has occurred on paper ...

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