Credit Derivatives Research provides charts of their CDS indices on their website updated daily. Here's a snapshot of their CDR Liquid 50 Indices and CDR Counterparty Risk Index as of 3/31/09. I added trend lines. Most spreads are near their previous highs. The Counterparty Risk Index is retesting highs not seen since the Lehman bankruptcy in 9/2008. As for the Liquid 50 Indices: The CDR Liquid 50 NAIG (investment grade) chart is in a strong uptrend, the CDR Liquid 50 NAHY (high yield) chart is in a channel near previous highs and the CDR Liquid 40 EUXO (Euro high yield) chart is in a wedge and waiting for clearance to either break through previous highs or fail. Go to creditresearch.com for all of this data and more. Eventually risk will be overpriced and institutions will make mad dough selling this protection. When that day comes.
CDR Liquid 50 NAHY Index (creditresearch.com)
CDR Liquid 40 EUXO Index (creditresearch.com)
CDR Counterparty Risk Index (creditresearch.com)