CDX volumes roar upward on coronavirus panic
Credit default index (CDX) traders swamped the market in high-yield (HY) and investment-grade contracts as the coronavirus crisis deepened, as weekly traded volumes quadruple multi-year averages.
Weekly notional traded volumes in CDX HY contracts were $99.9 billion, $79.1 billion and $87.9 billion for the weeks ending March 1, 8 and 15, respectively, according to Depository Trust & Clearing Corporation (DTCC) data. This compares to an average weekly volume of just $22.5 billion for the
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