Breaking the fall

Cover story: CMS spreads

pg15-cover-gif

Constant maturity swap (CMS) spread options products were hugely popular across Asia between late 2003 and mid-2005. Yield-hungry investors in the region snapped up a wide range of CMS spread products - steepeners, digitals, range accruals and target-redemption notes - that were usually capital-guaranteed at maturity and denominated either in US dollars or quantoed into local currencies. Globally, brokers estimate that more than $50 billion of such trades have taken place in the past 18 months.

T

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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

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