"Before, we were forced to take positions in the primary market and it became extremely difficult to ramp names we like."--Dan Ivascyn, asset-backed securities portfolio manager at Pacific Investment Management Co., which is returning to managing ABS CDOs because the development of the CDS market now allows the manager to express different views on the market.
"Before, we were forced to take positions in the primary market and it became extremely difficult to ramp names we like."
