Covered bond market goes global as WaMu leads in US
Washington Mutual will launch the first covered bond from the US in the coming weeks in a move that will finally take the concept beyond Europe's borders and give the market global status.
With a mortgage market more than 1-1/2 times as large as that of the European Union, the potential issuance from the US is huge, especially if WaMu's programme is successful and its peers follow it into the market.
Issuance from WaMu itself will not be insubstantial, with the bank
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