US wrap: Issuance falls as structured products market struggles
Issuance volumes dropped to new lows at the end of last week, with Friday's offering including only a single product. This is testament to the fact that the US structured products market is facing difficult times. With some longer maturities coming through the issuance, it seems that the low rates environment is taking its toll on structures.
Last week, Morgan Stanley issued an accelerated growth product with a four-year maturity, making it almost as long as the usual principal-protected
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