CDS spread for McDonald 5-year notes: 26.5bps vs. 5-year Treasury: 30bps. US government is now more credit risky than the Golden Arches.
The BigMac index has been more trustworthy than some official CPIs, and now its notes. What's next? Perhaps happy meals may become a better medium of exchange than the greenbacks?
Update (09/02/2009): CDS spread cho 5-year US Treasury đã lên đến 82bps.