What opinion do you hold that is most against the grain of analysis elsewhere?
Yield spreads without collateral credit performance are meaningless. That is the reason we devoted such an effort to reporting on the collateral performance of Morgan Stanley-led transactions. We were the first – and we are perhaps the only – dealer to provide this information to our investors. We believe that without an indication of collateral performance, it is meaningless to say one bond is cheap com
The week on Risk.net, July 7-13, 2018Receive this by email