JPMorgan and DBS complete CDO

Yet another arbitrage collateralized debt obligation issued with the involvement of an Asian collateral manager.

The market for synthetic securitized products in Asia may have been slow to take off but now it seems barely a week passes without a new collateralized debt obligation (CDO) being issued. The latest such offering to be completed is a deal backed by $1 billion of credit default swaps that JPMorgan structured for DBS Bank and DBS Asset Management.

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