Wall Street Seizes on Private Credit Fears With Way to Short

Wall Street is debuting a new product that will give investors a way to wager against private credit.

S&P Global Inc. is working with banks including JPMorgan Chase & Co. and Morgan Stanley to roll out the S&P CDX Financials Index, a credit-default swaps benchmark set to begin trading Monday that will protect against defaults by members of the gauge, including private credit funds.