JP Morgan creates aggregate bond index

JP_Morgan_Canar_WharfJP Morgan has launched a new composite bond index that will unify all of the bank’s flagship bond indices under a single platform.

The Global Aggregate Bond Index (GABI) will act as an umbrella index covering all sectors that will leverage JP Morgan indices such as the Emerging Market Bond Index (EMBI), Government Bond Index (GBI) and Collateralized Loan Obligation Index (CLOIE).

The index will track over 22,000 fixed income securities represented by more than 3,000 issuers across 122 countries and 31 different currencies with a combined market capitalization of US$44.5 trillion (€36 trillion).

Users will be able to drill down data by region, market classification (for example, developed or emerging markets), industry sector, credit rating, maturity, currency and country of risk.

 “Overall the new GABI and GABI US indices offer a more replicable representation of the global fixed income debt stock, coupled with an unprecedented level of portfolio customisation,” said a spokesperson for JP Morgan.

The new index will be produced every weekday and rebalanced on the last business day of the month with daily levels available from 1988 onwards.

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