Pre-migration untagged articles

Compagnie de Financement Foncier reopened the obligations foncières sector last Friday (September 28) with a Eu1bn five year issue priced at mid-swaps flat that confirmed the covered bond market’s recovery.

From master trusts to synthetic CLOs, innovation has been at the heart of the securitisation story. New structures and techniques have helped ABS revolutionise the capital markets. But recent events have revealed the dark side of innovation. Dariush Sokolov asks if the market has sometimes been too creative for its own good.

Dealers involved in putting together the next series of the ABX index, the 08-1 series, are starting to discuss what form the next version should look like given the cash sub-prime market has slowed to a trickle of deals.

Insurance officials expect increased use of derivatives going forward as structurers search for ways to expand the investor base.

Some buy-side participants in the cash loan market are reluctant to start trading loan-only credit-default swaps because of lack of transparency surrounding the extent to which private information is used.