Trouble in Taipei
Cover story
The meltdown in the US mortgage market, and the subsequent seizing-up of global credit markets and decline in equity markets has hit structured product investors in Taiwan hard. Traditionally comfortable with US dollar-denominated assets, Taiwanese investors have lost money at both the institutional level, through mortgaged-backed securities and collateralised debt obligations (CDOs), and on the retail side, mainly on equity-linked securities, but also through credit, interest rate, currency and
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