Banks craft bonds backed by chicken wing revenue, music catalogues and oil wells
Investors’ “relentless” appetite for juicy returns has triggered the biggest boom on Wall Street in complex financial products since the lead-up to the global financial crisis in 2007. The global volume of structured finance transactions has hit $380bn this year, according to data from LSEG, which excludes real estate and traditional corporate loans.
Such deals are also alluring to investors because they typically offer higher yields than traditional bonds while still locking in returns. Meanwhile, insurance companies and other professional investors have been seeking places to deploy the wave of assets coming from retirees and others seeking income-producing investments.
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