A big focus for credit hedge funds and other traders in the past couple of months has been the opportunities created by the rapid increase in liquidity in high-yield credit derivatives. Since the two rival index providers merged in July volumes have taken off.
“There’s huge volume in all the high-yield indexes,” says Will Roberts, head of structured credit trading at Goldman Sachs, referring to the 100-name product as well as its main offshoots – the BB sub-index, the single-B sub-index and the high-beta index.
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