Answer the below questions. (a) Explain how a single-name CDS can be used by a portfolio manager

Question:

Answer the below questions.
(a) Explain how a single-name CDS can be used by a manager who wants to short a reference entity.
(b) Explain how a single-name CDS can be used by a manager who is having difficulty acquiring the bonds of a particular in the cash market. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...