Editor's letter

Richard Jory

There is a new secret at large in structured products. To discover it, you must take a look at the blend of asset classes that have been offered by manufacturers over the past two years. Well before the financial crisis, the business of structured products was basically an equity game. Find a stock or an equity index - or several of them - bolt on a zero-coupon bond or a debt instrument of some kind, and that was pretty much it.

Before the crisis took hold there was plenty of talk and action

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