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	<title>Comments on: Brazil prices bond deals at lower spreads than Buffett</title>
	<link>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/</link>
	<description>FT Alphaville from FT.com</description>
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	<pubDate>Wed, 20 Aug 2008 10:53:28 +0000</pubDate>
	<lastBuildDate>Wed, 20 Aug 2008 10:53:28 +0000</lastBuildDate>
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	<item>
		<title>by: Sam Jones</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20782</link>
		<pubDate>Fri, 16 May 2008 09:10:44 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20782</guid>
					<description><![CDATA[Kamekon/Charles. 

Apologies for the confusion. While the two bonds earlier this week indeed priced just 15bp apart, the chart in the above post is for the CDS on the two - and is rebased. Was merely intended to show a sharp divergence in perceptions of default risk in the market. I suppose also, a degree of "decoupling"

Sam/Alphaville]]></description>
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		<title>by: Kamekon</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20764</link>
		<pubDate>Thu, 15 May 2008 16:26:02 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20764</guid>
					<description><![CDATA[Charles - According to Reuters the difference between the spreads was indeed 15bp: the Brazil bond was priced at 140bp over Treasuries, while the spread on the 10y BH bond was 155bp. But, as you suggest, the chart points to a much larger spread difference. 

(And to add to the confusion: Brazil is only rated BBB-/Ba1, whereas BH has a triple-A rating.)]]></description>
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		<title>by: Charles</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20761</link>
		<pubDate>Thu, 15 May 2008 14:43:56 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20761</guid>
					<description><![CDATA[150bp lower, no?]]></description>
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		<title>by: wdm</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20760</link>
		<pubDate>Thu, 15 May 2008 14:32:14 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/15/13084/decoupled-economy/#comment-20760</guid>
					<description><![CDATA[compare it to the spread on California credit]]></description>
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