S&P Dow Jones launches bond index on S&P 500 companies
NEW YORK, July 8 (Reuters) - S&P Dow Jones Indices said on Wednesday it launched a real-time index that tracks the bonds of S&P 500 companies, which allows investors to monitor the performance differences of the firms' stock and debt performances.
Weighted by the market value of the bonds and with a maturity requirement of greater than one month, the S&P 500 Bond Index is liquid enough to serve as a benchmark for exchange traded funds and structured products, the company, a part of McGraw Hill Financial, said in a statement.
The index currently tracks the debt of 430 S&P 500 companies reflecting more than $3 trillion in debt outstanding and $3.8 trillion in market value.
Thomson Reuters will provide end-of-day prices, as well as terms and conditions data for the index.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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