Comments on: Counterparties A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: ss4johnny Wed, 14 Jul 2010 23:48:30 +0000 Regarding that Pimco article. Wouldn’t an alternative to use the market value of the outstanding bonds rather than the face value outstanding or is it normally done on the basis of market value. For instance, if a country’s bonds are trading at 50 cents on the dollar due to heightened risk aversion, then only 50% of the outstanding value should be used when computing the weights in the index. I’m not sure whether that is done or not.