Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Gavan Nolan, credit analyst at Markit Group in London, looks at credit indices
The dizzying growth in the credit derivatives market has been well-documented in the financial press. Volumes have expanded by over 2,000% since 2002, according to Isda. Economic factors, for example low global interest rates, certainly created the conditions for growth. But innovation within the industry also made a major contribution. Perhaps the best example of this is the development of credit default swap (CDS) indices.
What are CDS indices?
CDS indices are tradeable products that give
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