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Derivatives

"The game will be equity--that's where the value is."

--Aditya Rana, executive director at Morgan Stanley in Hong Kong, referring to an uptick in demand for equity tranches of synthetic collateralized debt obligations, as range-bound spreads make the first-loss tranche more attractive to investors.

"The game will be equity--that's where the value is."--Aditya Rana, executive director at Morgan Stanley in Hong Kong, referring to an uptick in demand for equity tranches of synthetic collateralized debt obligations, as range-bound spreads make the first-loss tranche more attractive to investors.

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