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U.S. Corporate Credit Risk Gauge Little Changed, Index Shows

Thursday, 30 Sep 2010 09:34 AM

Sept. 30 (Bloomberg) -- A benchmark indicator of corporate credit risk in the U.S. was little changed.

Credit-default swaps on the Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, increased 0.28 basis point to a mid-price of 107.91 basis points as of 8:51 a.m. in New York, according to index administrator Markit Group Ltd.

The index, which typically climbs as investor confidence deteriorates and falls as it improves, began a new series Sept. 20.

Credit swaps pay the buyer face value if a borrower fails to meet its obligations, less the value of the defaulted debt. A basis point equals $1,000 annually on a contract protecting $10 million of debt.

--Editor: Alan Goldstein

To contact the reporter on this story: Mary Childs in New York at mchilds5@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

© Copyright 2017 Bloomberg News. All rights reserved.

   
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Sept. 30 (Bloomberg) -- A benchmark indicator of corporate credit risk in the U.S. was little changed. Credit-default swaps on the Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on...
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Thursday, 30 Sep 2010 09:34 AM
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