Home equity loan CDS surges
Trading volumes in a niche area of the credit derivatives market involving credit default swaps (CDSs) on tranches of home equity loan (HEL) asset-backed securities (ABSs) have exploded. "Trading activity has increased dramatically since the end of the third quarter, and hedge funds account for a lot of that increase," says Michael Koss, an ABS research analyst in the securitised strategy group at
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