Uncertain dividends

Dividend Swaps


Every winning streak comes to an end, but investors in the dividend swap market could have been forgiven for thinking theirs was the exception to the rule. The market's history is one of unblemished, spectacular returns for those investors that have chosen to go long dividends. That run came to a shuddering halt on July 20, when swaps across a range of maturities peaked simultaneously and went into reverse.

Dealers are keen to portray the decline as an orderly - and limited - retreat. But som

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 indvidual account here: