20 May – 24 May 2024

Summary: Swap spreads barely change again; credit default swap index lower again.

One of the more widely-used measures of corporate risk, swap-to-bond spreads, tightened considerably.

Another measure, the cost of credit default swap premiums, declined on average for a fifth consecutive week. The Australian credit default swap index, the iTraxx Australia Series 41, finished 1 point lower at 63.00 points.