CVA desks, hedge funds buy payers on Main

Paola Lamedica
By Hazel Sheffield
27 Mar 2014

CVA desks and hedge funds are buying outright payers and payer spreads on iTraxx Main as the index roll provided new impetus for investors looking to hedge.

“The March expiry and especially the roll of the index has prompted funds to roll their hedges into longer expiries on the new index,” Paola Lamedica, credit sector specialist at BNP Paribas in London, told GlobalCapital.

Lamedica cited increased activity in iTraxx Main series 21 April payers, with ...

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