Credit default swaps cds influence how bonds and loans trade and the relative value between bonds and loans cds can be the best way to hedge the risk of a selection from the role of credit default swaps in leveraged finance analysis book. Kobojoel kent the role of credit default swaps in leveraged finance analysis 5 normal 0 false false false microsoftinternetexplorer4 credit default swaps cds influence how bonds and loans t. If you are going to do analysis of corporate debt especially in the leveraged finance market you need to understand cds this booklet walks you through the basics of how cds works gives some perspective on how it has changed since the 2008 crisis and gives practical examples of how cds is used and analyzed for corporate issuers. The role of credit default swaps in leveraged finance analysis introduction this booklet lays out the workings of credit default swaps cds for corporate debt markets most specifically for credits in the leveraged loan and bond market and includes examples of how these influence credit analysis much of the analysis on credit focuses on the relative value of investment opportunities. The role of credit default swaps on financial market stability the credit default swap market has grown much faster than other derivatives markets since its inception even though it is dwarfed by the interest rate derivatives market which is eight times larger its growth has affected the stability of the financial system
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