(Bloomberg) -- A credit-default swap index based on
the U.S. high-yield, high-risk loan market rose in its first day
of trading as hedge funds and other investors used the contracts
to bet on the ability of companies to repay their bank loans.
The LCDX index rose about 0.6 to 100.6 as of 10:59 a.m. in
New York, according to prices from Lehman Brothers Holdings Inc.
An increase in the index suggests improvement in the perception
of credit quality; a decrease signals the opposite.
Read more at Bloomberg Bonds News
the U.S. high-yield, high-risk loan market rose in its first day
of trading as hedge funds and other investors used the contracts
to bet on the ability of companies to repay their bank loans.
The LCDX index rose about 0.6 to 100.6 as of 10:59 a.m. in
New York, according to prices from Lehman Brothers Holdings Inc.
An increase in the index suggests improvement in the perception
of credit quality; a decrease signals the opposite.
Read more at Bloomberg Bonds News
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