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Points upfront - numbering
Monday, April 27, 2009
Even hard core flow credit derivative aficionados get confused about the numbering system for credit indices.
The on-the-run European and Asian indices are series 11. CDX, meanwhile, is on series 12. That is except for Crossover, which is stuck on series 11. And just to confuse matters, the LCDX North American loan index recently rolled into series 12 - from series 10, which sets an interesting precedent for the next roll. Will these indices follow the example of hotels when they number their floors and skip unlucky 13?
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CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
