Structured credit comes unstuck
Structured credit has never had it so bad. From being on the cusp of breaking into the mainstream business, in the space of a few months the market has descended into a state of panic in which liquidity is nowhere to be found. And things may never be the same again. Sarfraz Thind reports
The mainstream structured products world has been increasingly eyeing the structured credit space over the past year or so. While the older generation of structured credit products, like collateralised debt obligations (CDOs), remain the domain of the institutional investor, the newer generation of structured credit products had been looking to be pitched to the retail client (see Structured Products January 2007). Indeed many of these products have borrowed technology originally used in the
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