17
Mar
10

CDS y la otra campana

Charles Devi tiene un posten The Atlantic- donde defiende la existencia del mercado de CDS, ya que permite revelar objetivamente la calidad crediticia del emisor (del bono).

Without the CDS market, credit quality would be and was a product of subjective models, since we’d have to look at the spreads on the whole spectrum of debt that a given issuer has outstanding, and then use subjective – but not necessarily arbitrary – methods of averaging them. With the CDS market, we have a market-based measure of the credit quality of a wide variety of debt instruments outstanding for a given issuer.

Como producto secundario, el articulo tiene una clara explicación del mercado de CDS.


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