64 per cent, on average, on March 28, down 22 basis points for the quarter, JPMorgan Chase's CEMBI
Broad Saudi Arabia Blended Yield index shows.
The CEMBI is the first in a series of corporate emerging markets indices JPMorgan plans to introduce.
Today's launch also includes the first hybrid index in the JPMorgan emerging markets fixed income family - the CEMBI HYBRID, which integrates corporates and sovereigns.
The corporate CEMBI is a liquid basket of emerging markets corporate issues which include approximately 80 bonds, representing 60 issuers and 16 countries (as of Oct 31, 2007).
We created the CEMBI in response to the rapid increase of corporate issuance and the need for a diligently managed global corporate index", said Gloria M.
One key feature of the CEMBI is the liquidity of the underlying basket.