The cost of protecting corporate and sovereign bonds in Asia from default climbed, according to Markit Group Ltd. prices.
The Markit iTraxx Asia index of 50 investment-grade borrowers outside Japan rose 1 basis point to 104 basis points as of 8:00 a.m. in Hong Kong, Markit prices show.
The Markit iTraxx Japan index was little changed at 103 basis points as of 9:21 a.m. in Tokyo. The Markit iTraxx Australia index was unchanged at 104 basis points as of 11:00 a.m. in Sydney, Markit
prices show.
Credit-default swap indexes are benchmarks for protecting 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. A basis point is 0.01 percentage point.
To contact the reporter on this story: Jungmin Hong in Seoul at jhong47@bloomberg.net
To contact the editor responsible for this story: Tom Kohn at tkohn@bloomberg.net.
The Markit iTraxx Asia index of 50 investment-grade borrowers outside Japan rose 1 basis point to 104 basis points as of 8:00 a.m. in Hong Kong, Markit prices show.
The Markit iTraxx Japan index was little changed at 103 basis points as of 9:21 a.m. in Tokyo. The Markit iTraxx Australia index was unchanged at 104 basis points as of 11:00 a.m. in Sydney, Markit
prices show.
Credit-default swap indexes are benchmarks for protecting 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. A basis point is 0.01 percentage point.
To contact the reporter on this story: Jungmin Hong in Seoul at jhong47@bloomberg.net
To contact the editor responsible for this story: Tom Kohn at tkohn@bloomberg.net.
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