Morgan Stanley Dean Witter
launched the MSHYci-Global Index, a junk bond index that will include issuers from developing nations.
The index, with corporate and government issuers, will include 266 bonds from 17 industries in 23 countries, including Mexico, Brazil and South Korea. Each bond carries a minimum initial principal value of $150 million.
The index includes $121 billion of corporate bonds and $200 billion of bonds issued by non-U.S. sovereigns.