“The CDS market has visibility, transparency and reliable price sources. All these qualities give people confidence in the product, particularly during more volatile periods when many market participants need an anchor.”
“The CDS market has visibility, transparency and reliable price sources. All these qualities give people confidence in the product, particularly during more volatile periods when many market participants need an anchor.”
—Peter Duenas-Brckovich, co-head of global flow credit trading at Nomura, on the benefits of the credit default swap market as opposed to the cash bond market.
Picking the wrong deal to finance can lead to public opprobrium. Banks must abandon the fiction that they are mere conduits for their clients if they care about reputational risk