Gaiyan Zhang
Abstract
Abstract This chapter provides a comprehensive overview of the young, but rapidly growing sovereign credit default swap (CDS) market, describes the function, trading, history, market participants, key statistical and stylized facts about CDS prices, determinants, price discovery, and risk issues.
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Abstract This chapter provides a comprehensive overview of the young, but rapidly growing sovereign credit default swap (CDS) market, describes the function, trading, history, market participants, key statistical and stylized facts about CDS prices, determinants, price discovery, and risk issues.
Key concepts: Stylized fact, Credit default swap, iTraxx, Credit default swap index, Sovereign credit, Financial economics, Credit derivative, Swap (finance)