Hints and tips:
...About half of that move, or 370bp, has come in recent days, according Mr Muench....
...Dirk Muench, credit derivatives analyst at JPMorgan, says the attraction for hedge funds is that they get their desired high-returning exposure but know the most they can lose is the five cents they paid...
...“Before [tranchelet] prices stabilise there will be arbitrage opportunities for some sophisticated clients,” says Mr Muench....
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