Bloomberg: It Looks Like Free Money Is Available in the Credit Market

Tracy Alloway, October 6, 2015

Here is so-called ‘skew’ in Markit’s North American High Yield CDX, a derivatives index tied to the credit default swaps (CDS) of 100 junk-rated companies and one of the most liquid credit-trading instruments around. The skew, or difference between the price of the CDX index and its underlying constituents hit negative 30 basis points this week, a level not seen since 2012 — when credit markets were roiled in the wake of a large seafaring mammal.

The full article is available here.

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