After the storm
The structured credit market has been battered by recent events, with investors retreating to the high ground. But now that signs of calm are returning, what kinds of structures can investors look forward to? Hardeep Dhillon reports
Since the turn of the year instability in the structured credit market has intensified as negative news buffets all asset classes. Volatility in the credit derivative indices, unwinds of mezzanine collateralised debt obligations, falling secondary loan prices, concerns over leveraged super-senior tranches and highly levered instruments such as constant proportion debt obligations have further exacerbated a fragile situation.
Uncertainty over the direction of the major economies and how that will
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