Cheyne reaction

Cheyne reaction

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Valuation issues highlighted by 'dreadful outcome' of SIV auction

Poorer than anticipated results from the auction of SIV Portfolio (Cheyne Finance) left few market participants with a bullish outlook for forthcoming restructurings of other SIVs. While the immediate consequences for the market are said to be limited, the auction has brought to light the ongoing uncertainty surrounding valuations of structured finance assets.

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