Benign credit markets last year meant dealers needed to develop a raft of new synthetic credit instruments and techniques to satisfy the yield requirements of fixed-income investors. And one dealer, often viewed as outside the top-tier synthetic credit houses, stepped up to the mark in more ways than any other: Lehman Brothers.
The US securities dealer provided consistent pricing for clients across the spectrum of investment-grade, high-yield and emerging market credit default swaps (CDSs)
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