Talking Point
We ask leading market participants whether recent moves to establish a European-style covered bond market in the US can sustain early momentum and result in a successful, fully functioning market
Tim Skeet, Head of covered bond origination, Merrill Lynch, London
It is our hope that covered bonds will become an important component of the US prime mortgage market and certainly the work put in so far to create a cross-industry consensus bodes well for the future. We need to follow up quickly, however, with some new issue activity to create liquidity and give investors something to do their homework on. We will then be in a position to establish a fair price for the bonds. At the moment we
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