Bloomberg and Goldman Sachs have launched a Bloomberg China USD Credit Liquid HY Index family, which provides market participants with indices to adjust their exposure to offshore China USD high-yield credit.
The following five indices have been developed for the market and can be viewed on the Bloomberg Terminal:
• Bloomberg China USD Credit Liquid HY Unh USD (I36616US Index)
• Bloomberg China USD Credit Liquid HY Issuer $1bn+ Unh USD (I36719US Index)
• Bloomberg China USD Credit Liquid HY $500mn+ Unh USD (I36720US Index)
• Bloomberg China USD Credit Liquid HY (BA only) Issuer $1bn+ Unh USD (I36721US Index)
• Bloomberg China USD Credit Liquid HY (BA only) $500mn+ Unh USD (I36722US Index)
The index family incorporates a liquidity requirement developed with Goldman Sachs to existing index constituents to ensure the diversification and tradability of the indices. The underlying index can be accessed on the Bloomberg Terminal by searching the ticker I29381US Index .
“The indices provide a tradeable solution to investors seeking exposure to offshore China high-yield credit,” said John Liu, head of the Greater China Fixed Income, Currency and Commodities Franchise within the Global Markets Division at Goldman Sachs. “They also enable market participants to use instruments such as total return swaps or funded notes tied to the asset class, as well as tailored products based on requirements around credit ratings and issuer or issuance diversification.”
“We are pleased to partner with Goldman Sachs on bringing innovative and timely index solutions to the market,” said Ji Zhuang, APAC head of Indices at Bloomberg. “The new index family is available to all market participants and provides a transparent and liquid product suite to better access opportunities in the offshore China credit market. It also enables the efficient benchmarking and management of evolving credit risks in portfolios.”
On 24 August, 2016, Bloomberg acquired the three best known long-standing China fixed income indices from Barclays Bank and rebranded them as the Bloomberg Fixed Income Indices on 24 August, 2021.
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