Collateralized debt obligations credit default swap

In recent years, the valnation of certain synthetic instrnments, snch as credit default swaps (CDS), has become a routine task in financial markets. Meanwhile, variations on the core CDS product are emerging, and more complex instruments, such as synthetic collateralized debt obligations (CDOs), that use CDSs as building blocks for larger transactions continue to see analytic evolution. This chapter provides an introduction to the basics of pricing and explores some of the tools available to those involved in the synthetics market. 

The Pricing of Credit Default Swaps and Synthetic Collateralized Debt Obligations... 

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