Leveraging demand
Despite a faltering single-name market, dealers remain adamant that the imminent release of indexes linked to European leveraged loan credit default swaps will bolster demand. Gareth Gore reports
Indexes tend to be the focal point of any market. Equity investors often refer to the Dow Jones Industrial Average or S&P 500 when gauging general market health or the relative performance of individual stocks, while credit investors habitually use the iTraxx indexes as a proxy for the credit default swap (CDS) market. So when the first indexes linked to leveraged loan credit default swaps (LCDSs) are released in Europe in the next few weeks, the banks responsible for the launch hope they will
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