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Bloomberg Short-Term Credit Sensitive Index Available for U S Loan Market

Bloomberg Short-Term Credit Sensitive Index Available for U.S. Loan Market Bloomberg‘s BSBY Short-Term Credit Sensitive Index Now Available for U.S. Loan Market New York, NY  Bloomberg today announced that the Bloomberg Short-Term Bank Yield Index (BSBY) is now available for use as a reference in financial benchmarks in the U.S. loan market.  BSBY includes both a term structure and systemic credit-sensitive spread, which may be used to support the market‘s transition from LIBOR to risk-free rates, such as SOFR. Bloomberg began publishing BSBY on an indicative basis for the purposes of illustration, analysis and collection of market feedback on October 15, 2020.

$9B Buying Spree Could Provide Oil Price Tailwind

As much as $9 billion of oil contracts could be purchased over the five days of re-balancing that start Friday, according to Citigroup. (Bloomberg) Tens of billions of dollars worth of commodity investments are about to be switched around in a move that’s set to cause a wave of oil-futures buying. While the move happens every year, crude’s 20% decline in 2020 means that the value of oil index investments has been far below its target for months. As a result, as much as $9 billion of oil contracts could be purchased over the five days of re-balancing that start Friday, according to Citigroup Inc., at a time when the market is already surged to 10-month highs.

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