Flache Steepener
In diesem Jahr blieben die Renditekurven in den USA und Europa weitgehend flach, zum Leidwesen all der Anleger, die im letzten Jahr CMS-Steepener-Produkte im Wert von Milliarden Dollar gekauft haben. Zwar unterstützen die Händler ihre Anleger bei der Restrukturierung, doch das reicht bestenfalls zur Schadensbegrenzung
Aufgrund flacher Renditekurven in den USA und Europa war die Performance von CMS-Spread-Optionsprodukten (Constant Maturity Swaps) schlecht. Folglich sitzen die Investoren nun auf Positionen mit negativer Marktwertbewertung und geminderten Zinserträgen. Einige Investmentbanken helfen ihren Kunden, indem sie eine Restrukturierung und alternative Strukturen anbieten. Aber die extrem flachen
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