Although there was talk of doom and gloom in the European ABCDS market, Ganesh Rajendra, managing director and head of securitization research at Deutsche Bank in London, said his firm's U.S. desk is trading multi-billion volumes of single-name CDS on ABS and ABX index product every month. This information was met with raised eyebrows by rival European dealers on the panel, with one remarking, "I feel like a poor relation in trading volumes."
