Public sector model broken, but Pfandbrief secure

The mighty Pfandbrief has finally fallen victim to the problems suffered by other asset classes in the international capital markets. With volatile spreads, a lack of liquidity and worries over the futures of some issuers, the situation looks bleak. Nonetheless, Brendan Daly finds that this has not dented the confidence and optimism of market participants. From EuroWeek’s Germany in the Capital Markets supplement.