Covered bonds “make sense”

Covered bonds “make sense”

Structured Finance

Covered bonds make sense for Latin America’s domestic investors, and the supply is likely to increase, says Mike Morcom, head of Latin America agency and trust sales at Citi. “In residential mortgage securitizations, local investors often make a pricing distinction between issuers but not necessarily between pool characteristics,” said Morcom. “If you look at the example of the Mexican Sofoles like Su Casita, you saw very little pricing differential among the deals although the pool characterist

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