The credit derivatives markets lost a little of their shine in 2003 after several years of hogging the limelight as their older and less glamorous sibling, equity derivatives, made a comeback on the back of confidence returning to the underlying stock markets. Nevertheless, developments in credit derivatives indices and single-tranche CDOs ensured that credit derivatives continued to be highly profitable.
2003 YEAR IN REVIEW: Luster Comes Off Credit Mart As Equity Stages Comeback
