Derivative Indexes Tighten, Issuance Continues

"Gains in the corporate bond indexes, which encompass the credit default swaps of baskets of North American companies, act as key gauges of credit market confidence. With the specter of systemic risk ebbing, "the worst is off the table as an option," said William Bellamy, director of fixed income at Thompson, Siegel & Walmsley in Richmond, Va."