How Repo Agreements Juiced Securitized Debt Leverage

over 5 years in Washington Post

All kinds of markets took a drubbing in mid-March as the depth of the economic disruption caused by the pandemic sank in. But what happened in U.S. securitized debt stood out, as the asset class was pummeled by margin calls that forced selling in residential- and commercial-mortgage bonds, collateralized loan obligations and even securities backed by some types of auto loans. New issuance in these markets seized up and stayed frozen for weeks even as other areas of the bond markets, like corpora

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