The cost of insuring corporate and sovereign bonds in the Asia-Pacific region against non-payment was little changed today, according to traders of credit default swaps.
The Markit iTraxx Asia index of 40 investment-grade borrowers outside Japan held at 132 basis points as of 8:34 a.m. in Singapore, Australia & New Zealand Banking Group Ltd. prices show.
The gauge rose one basis point last month, the first monthly rise since August, according to data provider CMA. The Markit iTraxx Australia index was also little changed at 100.5 basis points as of 11:34 a.m. in Sydney, ANZ prices show.
The benchmark fell 3.4 basis points last week, the most since the five days ended Oct. 18, according to CMA, which is owned by McGraw-Hill Cos. and compiles prices quoted by dealers in the private market.
The Markit iTraxx Japan index also was unchanged at 78.25 basis points as of 9:30 a.m. in Tokyo, according to Citigroup Inc. prices.
The index fell for a third consecutive week last week, declining 1.4 basis points, and dropped 12 basis points last month, the most since April, CMA data show. Credit-default swap indexes are benchmarks for insuring bonds against default and traders use them to speculate on credit quality.
A drop signals improving perceptions of creditworthiness, while an increase suggests the opposite. The swap contracts pay the buyer face value in exchange for the underlying securities if a borrower fails to meet its debt agreements.
bloomberg.com
The Markit iTraxx Asia index of 40 investment-grade borrowers outside Japan held at 132 basis points as of 8:34 a.m. in Singapore, Australia & New Zealand Banking Group Ltd. prices show.
The gauge rose one basis point last month, the first monthly rise since August, according to data provider CMA. The Markit iTraxx Australia index was also little changed at 100.5 basis points as of 11:34 a.m. in Sydney, ANZ prices show.
The benchmark fell 3.4 basis points last week, the most since the five days ended Oct. 18, according to CMA, which is owned by McGraw-Hill Cos. and compiles prices quoted by dealers in the private market.
The Markit iTraxx Japan index also was unchanged at 78.25 basis points as of 9:30 a.m. in Tokyo, according to Citigroup Inc. prices.
The index fell for a third consecutive week last week, declining 1.4 basis points, and dropped 12 basis points last month, the most since April, CMA data show. Credit-default swap indexes are benchmarks for insuring bonds against default and traders use them to speculate on credit quality.
A drop signals improving perceptions of creditworthiness, while an increase suggests the opposite. The swap contracts pay the buyer face value in exchange for the underlying securities if a borrower fails to meet its debt agreements.
bloomberg.com
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