The credit derivatives market is bracing itself for its next phase of growth. A year ago, the idea of credit default swaps (CDSs) on asset-backed securities (ABSs) was considered by most investors and even some bankers as slightly far-fetched, with many wondering who would be end-users for such an instrument. For a relatively stable asset class like ABSs, why would there be a need to hedge exposures?
That impression has changed quickly. Over the past six to nine months, dealers report a sign
The week on Risk.net, July 7-13, 2018Receive this by email