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Corporate Credit-Default Swap Indexes Rolling Into New Series 

September 21, 2015

Katie Linsell, Bloomberg Business

The latest series of benchmarks measuring the cost of insuring corporate debt against default started trading today.

Gauges of credit-default swaps on companies in Europe, Asia and Australia rolled into their 24th series. The 25th version of the Markit CDX North America Investment-Grade Index also opens today and its high-yield measure starts trading on Sept. 28. The 24th series of the Markit iTraxx Japan starts on Thursday.

The Markit iTraxx Crossover Index of swaps linked to 75 non investment-grade companies cost 309 basis points at 10 a.m. in London. That compares with 322 basis points for the previous series at the close of trading on Friday, according to data compiled by Bloomberg.

The Markit iTraxx Europe index linked to 125 companies with investment-grade ratings was at 77 basis points, compared with 71 basis points on Friday. The Markit iTraxx Financial Index of credit-default swaps on the senior debt of 30 banks and insurers rose to 85 basis points from 78 basis points, and the subordinated index increased to 171 basis points from 157 basis points.

Read more: Bloomberg Business

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