Structured credit makes a return as investors seek yield

Credit repacks and collateralised loan obligations back en vogue thanks to persistent low interest rates and a continued search for yield on the part of investors

With the notable exceptions of the India and Indonesia elections, and the short-term reversal of the renminbi/dollar appreciation story in early February, Asian markets have continued to be range-bound on the back of central banks' ongoing loose approach to monetary policy.

The impact of this macro-environment was felt most keenly in the credit markets: a number of houses reported significant jumps in their credit derivatives businesses, particularly in the yield-hungry north Asia markets of