Corporates Index

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What is it?

The Markit iBoxx EUR Corporates Index represents the universe of Euro-denominated bonds issued by public and private corporations that may be domiciled anywhere in the world. To be included, bonds must have at least € 500 million (or € 1 billion for bonds issued in a pre-Euro currency) outstanding, at least one year until maturity and have an investment grade rating. Index value is relative to a value of 100 on 31 December 1998. Weighted by market capitalization, the index is reviewed and rebalanced monthly. The daily return shows the aggregate total return for the day, including interest income plus or minus capital gains or losses based on changing prices for all bonds in the index. The arrow shows whether the daily return on the index was up, down or even for the previous day.

Why do I care?

The Market iBoxx EUR Corporates Index tracks the performance of the Euro-denominated corporate bond market. This sector of the market typically trades at yields slightly higher than government and sub-sovereign bonds because corporate bonds do not have any direct or implicit government guarantee. Investors demand higher returns for corporate bond investments because of the higher risk. Charting the index over the past 12 months reveals the general direction and trends in the European corporate bond market, which may offer insights on economic and business trends. The Markit iBoxx EUR Corporates Index also provides a benchmark against which investors can choose to measure the performance of their own Euro-denominated bond investments.