Wrapping paper

With a 56% market share, monoline insurer MBIA plays Father Christmas to many of Australia?s bond issuers. Robert Velins and Graham Metcalf certainly have the gift of the gab.

Australia's corporate bond markets are as active as ever with a steady flow of infrastructure projects bringing plenty of long-dated paper. MBIA makes it happen by adding a triple-A wrap. FinanceAsia spoke to joint directors of MBIA's Asia Pacific business, Robert Velins and Graham Metcalf, about their business strategy, fears of saturation and the future for Aussie bonds.

What has the downturn in the market meant for your business

Velins We operate on a fear and greed index. When greed dominates then investors don't want the insurance that a monoliner provides, they will take the spread even if it has reached an unsustainable levels. When investors are terrified of market conditions then wraps...

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