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New CDS Indices Sure To Calm Investor Fears

For those in the 'CDS are weapons of financial mass destruction' camp, today is not your day. Due to the prevalence of major industrialized countries putting their fiscal problems on their credit cards and turning themselves into emerging market nations, Markit plans to launch four news indices focused on sovereign default risk. While the sovereign CDS market used to be focused on places like Brazil and Russia, in a few months you'll be able to trade the solvency of the G7 and Western Europe - assuming you can find somebody to go long.
New indices to trade in sovereign default risk [FT]