August 10, 2011 / 8:54 AM / 7 years ago

Cost of insuring U.S. debt against default falls

A view of the Federal Reserve Building in Washington, September 16, 2008. REUTERS/Jim YOUNG

LONDON (Reuters) - The cost of insuring U.S. government debt against default fell on Wednesday after the U.S. Federal Reserve signaled it would maintain an ultra-easy monetary policy for at least two more years.

U.S. CDS fell 4 basis points to 53 bps, according to Markit data.

The Fed on Tuesday promised to keep interest rates near zero until 2013 and said it would consider further steps to help growth — fueling speculation it could do another bout of quantitative easing.

Reporting by Ana Nicolaci da Costa

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