, Columnist
Cat Bond Damage Looks Overdone
Lowered estimates of hurricane damage are a good sign.
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Hurricane Irma may be downgraded to a tropical depression by Tuesday, according to the U.S. National Hurricane Center. The insurance industry is breathing a sigh of relief.
This should be reflected in prices for catastrophe bonds too. The benchmark Swiss Re index took a nasty tumble at its weekly update on Friday, before Irma hit Florida, and that is probably well overdone.