Index News
Coupons for Markit CDX NA HY Indices Rolling on 1 April, 2008
27 March, 2008 - The initial coupons for the Markit CDX NA HY Index and sub indices rolling on April 1, 2008 can be found in the table below.
| INDEX |
3Y |
5Y |
7Y |
10Y |
| Markit CDX NA HY Index |
500 |
500 |
500 |
500 |
| Markit CDX NA HY HB Index |
|
500 |
| Markit CDX NA HY B Index |
|
500 |
| Markit CDX NA HY BB Index |
|
400 |
Coupons for Markit CDX Indices Rolling on 25 March, 2008
19 March, 2008 - The initial coupons for the Markit CDX Indices rolling on March 25, 2008 can be found in the table below. Please note that initial coupons for the IG sector sub indices will follow those of the main IG index.
| INDEX |
1Y |
2Y |
3Y |
5Y |
7Y |
10Y |
| Markit CDX NA IG Index |
150 |
150 |
155 |
155 |
150 |
150 |
| Markit CDX NA IG HVOL Index |
350 |
350 |
350 |
350 |
350 |
350 |
| |
| Markit CDX NA XO Index |
|
|
350 |
350 |
350 |
350 |
| |
| Markit CDX EM |
|
|
|
265 |
|
300 |
| Markit CDX EM Div |
|
|
210 |
245 |
260 |
270 |
* All coupons are expressed in basis points
Additions to and Removals from the Markit CDX North America IG Sub Indices
19 March, 2008 - The following tables outline the companies that will be added to and removed from the sector sub indices for the Markit CDX NA IG Index. The changes to the sub indices will be effective as of the roll date on March 25, 2008.
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG CONS Series 10 |
BRUNSWICK CORPORATION |
Jones Apparel Group, Inc. |
| |
Kohl's Corporation |
| |
The Black & Decker Corporation |
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG ENRG Series 10 |
No Additions |
No Removals |
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG FIN Series 10 |
No Additions |
Countrywide Home Loans, Inc. |
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG INDU Series 10 |
M.D.C. Holdings, Inc. |
Lennar Corporation |
| |
Masco Corporation |
Centex Corporation |
| |
|
Pulte Homes, Inc. |
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG TMT Series 10 |
Comcast Corporation |
Comcast Cable Communications, LLC |
| |
THE NEW YORK TIMES COMPANY |
IAC/InterActiveCorp |
| |
Viacom Inc. |
Belo Corp. |
Additions to and Removals from the Markit CDX North America HVOL Index Set to Roll on March 25, 2008
17 March, 2008 - The following table outlines the companies that will be added to and removed from the Markit CDX.NA.IG.HVOL Index. The changes to the indices will be effective as of the roll date on March 25, 2008.
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG HVOL Series 10 |
BRUNSWICK CORPORATION |
Belo Corp. |
| |
Capital One Bank |
Countrywide Home Loans, Inc. |
| |
Darden Restaurants, Inc. |
Centex Corporation |
| |
Kohl's Corporation |
IAC/InterActiveCorp |
| |
Marriott International, Inc. |
Jones Apparel Group, Inc. |
| |
Masco Corporation |
Lennar Corporation |
| |
M.D.C. Holdings, Inc. |
Pulte Homes, Inc. |
| |
THE NEW YORK TIMES COMPANY |
Universal Health Services, Inc. |
| |
XL CAPITAL LTD |
Whirlpool Corporation |
BRUNSWICK CORPORATION to replace Countrywide Home Loans, Inc. in Markit CDX NA IG Index
14 March, 2008 - Following the decision by the dealer group to further remove Countrywide Home Loans, Inc. from the Markit CDX NA IG Index, BRUNSWICK CORPORATION was selected as a replacement entity for the upcoming Series 10 index. The finalized list of additions to and removals from the index are listed in the table below.
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG Series 10 |
The Black & Decker Corporation |
IAC/InterActiveCorp |
| |
Kohl's Corporation |
Lennar Corporation |
| |
M.D.C. Holdings, Inc. |
Belo Corp. |
| |
Masco Corporation |
Centex Corporation |
| |
THE NEW YORK TIMES COMPANY |
Jones Apparel Group, Inc. |
| |
Viacom Inc. |
Pulte Homes, Inc. |
| |
BRUNSWICK CORPORATION |
Countrywide Home Loans, Inc. |
| |
Comcast Corporation* |
Comcast Cable Communications* |
* Please note that
Comcast Cable Communications, LLC will be replaced by Comcast Corporation in the Markit CDX.NA.IG Series 10 Index.Additional Removal Announced from IG Index
13 March 2008 - In addition to the entities announced for removal from the CDX index for Series 10, Countrywide Home Loans, Inc. is also to be removed from the IG index. Voting will take place tomorrow to determine the replacement for Countrywide, and will be announced tomorrow after close of business.
Voting for the HVOL index will now take place on Monday, with results expected after close of business on Monday.
Addditions to and Removals from the Markit CDX North America High Yield Index Set to Roll on April 1, 2008
March 13, 2008 - The following tables outline the companies that will be added and removed from the Markit CDX.NA.HY Index. The changes to the indices will be effective as of the roll date on April 1, 2008
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA HY Series 10 |
Chemtura Corporation |
Lyondell Chemical Company |
| |
Constellation Brands, Inc. |
Quebecor World Inc. |
| |
DIRECTV Holdings LLC |
TEMBEC INDUSTRIES INC. |
| |
STATION CASINOS, INC. |
The Williams Companies, Inc |
Removals from the Markit CDX North America High Yield Index Set to Roll on April 1, 2008
March 11, 2008 - The following table outlines the companies that will be removed from the Markit CDX.NA.HY Index. The changes to the index will be effective as of the roll date on April 1, 2008. Companies that will be added to the index are expected to be announced within the next few days.
| INDEX |
REMOVED |
| Markit CDX NA HY Series 9 |
Lyondell Chemical Company |
| |
Quebecor World Inc. |
| |
TEMBEC INDUSTRIES INC. |
| |
The Williams Companies, Inc. |
Additions to the Markit CDX North America Investment Grade Index and Crossover Index Set to Roll on March 25, 2008
March 11, 2008 - The following tables outline the companies that will be added and removed from the Markit CDX.NA.IG Index and the Markit CDX.NA.XO Index. The changes to the indices will be effective as of the roll date on March 25, 2008.
| INDEX |
ADDED |
REMOVED |
| Markit CDX NA IG Series 10 |
The Black & Decker Corporation |
IAC/InterActiveCorp |
| |
Kohl's Corporation |
Lennar Corporation |
| |
M.D.C. Holdings, Inc. |
Belo Corp. |
| |
Masco Corporation |
Centex Corporation |
| |
THE NEW YORK TIMES COMPANY |
Jones Apparel Group, Inc. |
| |
Viacom Inc. |
Pulte Homes, Inc. |
| |
Comcast Corporation* |
Comcast Cable Communications* |
* Please note that
Comcast Cable Communications, LLC will be replaced by Comcast Corporation in the Markit CDX.NA.IG Series 10 Index.| INDEX |
ADDED |
REMOVED |
| Markit CDX NA XO Series 10 |
Belo Corp. |
TXU Corp. |
| |
Centex Corporation |
Residential Capital, LLC |
| |
Host Hotels & Resorts, L.P. |
GMAC LLC |
| |
Jones Apparel Group, Inc. |
Harrah's Operating Company, Inc. |
| |
Lennar Corporation |
Hilton Hotels Corporation |
| |
The Mosaic Company |
K. Hovnanian Enterprises, Inc. |
| |
Pulte Homes, Inc. |
The Williams Companies, Inc. |
Removals from the Markit CDX North America Investment Grade Index and Crossover Index Set to Roll on March 25, 2008
March 10, 2008 - The following table outlines the companies that will be removed from the Markit CDX.NA.IG Index and the Markit CDX.NA.XO Index. The changes to the indices will be effective as of the roll date on March 25, 2008. Companies that will be added to the indices are expected to be announced within the next few days.
| INDEX |
REMOVED |
| Markit CDX NA IG Series 9 |
IAC/InterActiveCorp |
| |
Lennar Corporation |
| |
Belo Corp. |
| |
Centex Corporation |
| |
Jones Apparel Group, Inc. |
| |
Pulte Homes, Inc. |
| |
Comcast Cable Communications, LLC (to be replaced by Comcast Corp) |
| |
| Markit CDX NA XO Series 9 |
TXU Corp. |
| |
Residential Capital, LLC |
| |
GMAC LLC |
| |
Harrah's Operating Company, Inc. |
| |
Hilton Hotels Corporation |
| |
K. Hovnanian Enterprises, Inc. |
| |
The Williams Companies, Inc. |
There are no changes in the composition of the CDX Emerging Markets Index and CDX Emerging Markets Diversified Indices for the upcoming roll.
10 March 2008
Provisional RED Codes for CDX Indices Rolling in March 2008 (pdf)
These are the provisional RED codes for the new series of CDX, contingent on there not being any changes to the constituents of the current on-the-run indices between now and the roll date.
CHANGE IN ROLL DATES FOR MARKIT CDX/LCDX SERIES 10 INDICES
Based on the feedback received from dealers, the roll dates for CDX and LCDX for the forthcoming roll are going to be pushed back slightly. The main reasoning behind that is the current roll date for the IG and EM suite of indices - 20th March - is an early close, and the next day is Good Friday - a day the markets are closed.
The dealers have voted to also preserve the week delay between the IG and HY roll, and between the HY and LCDX roll dates.
IG now rolls on the 25th March for this year, HY on the 1st April and LCDX on the 8th April. Markit will adjust the timing of the process so we start polling at the same time relative to the roll date.
Please note that the effective dates of the new series of indices will remain as is - 21st March for IG/EM, 28th March for HY and 4th April for LCDX.
iTraxx indices are expected to roll on 20th March as usual.