Deutsche Bank and Morgan Stanley Dean Witter are each planning to launch a global fixed-income index, despite protests that more indices will only confuse investors.

The indices will cover sovereign debt and corporate credit issued worldwide. Deutsche expects to launch its index 'soon'. Morgan Stanley is planning its launch for the first quarter of next year. The two new indices will join the three already in existence - the Lehman Brothers Global Aggregate, Salomon Smith Barney's World BIG and the Merrill Lynch Global Broad Market Index.