An abbrevaition for par equivalent CDS spread; a measure of the creditworthiness of a bond. It sets the bond’s Z-spread…

The premium (or excess return) that the holder of a fixed-income security (a bond) earns, net of default losses, over...

An acronym for par equivalent CDS spread; a measure of the creditworthiness of a bond. It sets the bond’s Z-spread...

A measure of the creditworthiness of a bond. It sets the bond’s Z-spread curve against the CDS contract (CDS spread)....