The collateralised debt obligation market is about to reach a major milestone by breaching the $1 trillion mark.
The estimate of outstanding global issuance is published today in a research note from JPMorgan. “This figure illustrates how CDOs have become a benchmark fixed-income product in the same vein as MBS or ABS,” says the bank.
It adds that the pace of primary issuance of CDOs is stronger than ever before. Funded volume at $133 billion for the year-to-date is already up 61% on the sam