Getting flattened

Cover Story

pg20-reuther-gif

Constant maturity swap (CMS) steepener products have seen phenomenal growth over the past 18 months, with some parties estimating that more than $50 billion has been sold in one guise or another into the market. Asian and North American investors have predominantly bought US dollar products, some of which were quantoed into local Asian currencies, in 2004 and early 2005. And European investor appetite has been equally voracious as yield-hungry investors snapped up euro-denominated CMS

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: