RMBS rollercoaster



After eight gloomy months, a modest revival in activity in mortgage-backed securities emerged at opposite ends of Asia in May and June. More than a dozen high-quality, residential mortgage-backed securities (RMBS) were launched in Australia and South Korea and quickly taken up by investors at modest premiums over similar issues in 2007.But as quickly as the market stirred, it died down, as another crisis hit markets in the US - the technical bankruptcy of the Federal National Mortgage Associ