Reuters Lehman debt protection costs jump as shares dive Friday July 11, 10:27 am ET
NEW YORK (Reuters) - The cost to insure Lehman Brothers (NYSE:LEH - News) debt against default surged on Friday, as its stock price plunged for the second day.
Credit default swaps on Lehman Brothers debt widened 55 basis points to 380 basis points, or $380,000 per year for five years to insure $10 million in debt, according to Phoenix Partners Group. Lehman's stock also plunged more than 14 percent.
(Reporting by Karen Brettell; Editing by James Dalgleish)
