二级的时候short CDS是买入CDS的意思,当时还专门强调跟平时理解的要反过来。
现在在三级里short CDS就是真的卖出CDS?完全反过来了吗
书上说:protection would be sold (i.e., shorting the CDS) on the target company to benefit from its improved credit quality (and decline in price of protection and the CDS) once a merger is completed。