Salient to Investors: Investors say difficulty trading debt from fledgling markets is driving them away. Timo Boehm at Pimco said new markets, such as South Korea or Turkey, don’t have sufficient liquidity. Georg Grodzki at Legal & General Investment Mgmt said home loans used to support covered bonds vary across
READ MORE... →Salient to Investors: Timo Boehm at Pimco has reduced bets on covered notes as Europe’s covered bond market falls out of favor as investors seek better returns on their risk – some highly rated alternatives including sovereign-backed and agency notes are much cheaper. Boehm said covered bond sales this year will fall
READ MORE... →