The main theme in the covered bond market of 2006 has been the addition of new jurisdictions as fresh legislation is passed. Most notably, this included the much-anticipated and successful opening of the US covered bond market courtesy of Washington Mutual in a move widely expected to open the floodgates for more US mortgage lenders looking to latch onto the coattails of this success. The implications of this development could eventually be far reaching for traditional European issuers of covered bonds that have found the US investor base a...Read more