Bespoke and index tranche trading volumes have been increasing for the last few years, supported by the low yield environment. Of late, activity has begun to pick up speed and the market is set to evolve.
“The end of last year and beginning of this were very active, particularly in the two- and three-year points – spreads were wide and it was a good time to put on risk,” says Magnus Einarsson, md, structured credit trading at Nomura.
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