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

The difference between the CDS spread and par equivalent CDS spread: PECS basis = CDS spread - PECS It captures...

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)....