Who Bought $382 Million Of Credit Default Swaps On Berkshire Hathaway Last Week?

Last week, according to the Depository Trust & Clearing Corporation, there were 23 trades for $382 million in credit default swaps on Berkshire Hathaway Inc. This placed the firm 20th by trading volume of all 671 names traded last week. In early June, the firm was the most heavily traded corporate reference name. Why is this happening? The diversity of opinion on the firm’s credit quality has increased. The 10-year annualized default probability has increased from 0.10% in 2012 to 0.30% today.

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