The fastest growing sector of the fixed income market is the market for collateralized debt obligations (CDOs). Fostered by the development of credit default swaps (CDS) on all types of indexes of corporate bonds, emerging market bonds, commercial loans, and structured products (asset-backed securities, mortgage-backed securities, and commercial mortgage-backed securities), new products are being introduced into these markets at a rapid rate.

In this book, authors Lucas, Goodman, Fabozzi, and Manning bring market participants up to speed regarding all the essential developments in this sector, including information on new products like CDS on CDOs, hybrid assets in ABS CDOs, trust preferred CDOs, CDOs backed by commercial real estate, ABS CDS, the ABX index, and much more.

They offer in-depth coverage of various rating issues and rating methodologies, adiscussion of innovations in CDO structuring, and an update on market developments such as the impact of CDOs on underlying collateral markets, and REIT purchases of CDO equity.