Markit launches first synthetic muni bond index

The data and OTC derivatives trade processing firm Markit has announced the launch of two new indices: the Markit iBoxx Short EUR Sovereign Eurozone Total Return Index and a municipal bonds index, the Markit MCDX index.

The sovereign index will act as a benchmark for asset managers and institutional investors holding short positions in Eurozone government debt and will take into account revenues from short sales of bonds in the index and a current repo rate which, says Markit, goes beyond a strai

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