The collateralised debt obligation (CDO) markets in the US and Europe are taking divergent paths this year. While volumes are expected to remain broadly flat in the US, dealers expect another year of growth in Europe. On both continents, innovation in the form of structural enhancements required to protect the interests of increasingly discerning CDO investors may help spur activity.
Dealers believe the market’s development is likely to depend on the inclusion of new asset classes such as US muni
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