The Future of the Global Covered Bond Market
The covered bond market has seen continued growth over the last 5 years, with new jurisdictions coming into play, a broadening investor base and a relentness tightening of spreads for issuers.
However recently the market has reached a pivotal moment; after a long period of high liquidity the global credit markets hit turbulence in August, scaring some investors away from any products related to mortgages. And in addition to the broader market conditions, covered bonds are also facing their own specific challenges, with investors becoming far more critical about structures and legal and political risk.
On the other hand, as a stable, Triple A rated product, covered bonds should be more able to weather the volatility on financial markets than other instruments.
The Future of the Global Covered Bond Market is an essential read for issuers, arrangers and investors, offering a highly insightful analysis of the market, its main participants and its likely future direction. This report gives expert advice on topics such as:
- how best to build a yield curve
- managing the deal pipeline to avoid clashing with other issuers
- allocation of bonds
- satisfying different investor bases
- issuing in foreign currencies
- optimising the mix between covered bond and RMBS issuance.
The report features a variety of data on all covered bonds deals worldwide, looking at markets on a country-by-country basis and by examining the passage of new covered bond laws in countries such as Italy, Denmark and the United Kingdom.
Published September 2007, The Future of Global Covered Bond Market is priced at £895/US$1,818 with a 15% discount for IFR subscribers.
Order online now or contact john.woodward@thomson.com or by phone on +44(0)207 369 7317 to be one of the first to read this insightful report. For more information on this report please download a brochure.