With most central bank reserves globally now held in Asia, demand for AAA unsecured bonds, covered bonds and even residential mortgage-backed securities will likely increase. Michael Marray looks at the opportunities for European borrowers.

Germany’s new pfandbrief law was designed to end anomalies arising from the ending of state guarantees for Landesbanken. Many hope that it will also reinvigorate the pfandbrief market in the face of growing international competition. Michael Marray reports.

While some countries are allowing a structured covered bond market to develop, others prefer to enact a covered bond law. Portugal has just passed legislation: will it experience a boom similar to its Iberian neighbour? Michael Marray reports.

The US has watched the rapid development of the covered bond market in Europe and elsewhere from afar. Now, with questions hanging over the country’s giant mortgage-backed securities providers and tempted by insatiable investor appetite, US issuers are about to dip their toes in the water. Michael Marray reports.

Turkish banks are on the lookout for more funding to meet demand from the growing credit card, mortgage and commercial loan sectors. Michael Marray reports on the growth in both wrapped and unwrapped paper.

As a result of home ownership demands from a burgeoning middle class, banks in central and eastern Europe are seeking new sources of mortgage financing – and US and European asset-backed investors are only too keen to diversify their portfolios. Michael Marray reports.

Trade in whole mortgage loans is brisk in the UK, while Germany and the Netherlands show potential, but the booming European market’s main player is American. Michael Marray reports.

Insurance-linked securities have raised the interest of a new swathe of investors and are providing a source of capital along with increased financial flexibility for insurers. Michael Marray reports.
There is growing appetite from investors on the international capital markets for insurance-linked securities (ILS).

Although Asian investors still favour dollar-denominated bonds, their interest in euro deals is growing, stimulating European issuers to work on building up their Asian investment base. Michael Marray reports.
European bond issuers are devoting an increasing amount of their time to the Asian investor base, tapping into the fast-growing demand for fixed income assets from central banks and private accounts.

Michael Marray examines the Spanish covered bond market and reasons behind the recent boom in both issuance and investor appetite.