Distress in the financial markets in 2008 caused secondary trading volumes to outstrip primary issuance more than twofold as credit risk seeped into the sector and de-leveraging hedge funds were forced to sell cat bonds.
Distress in the financial markets in 2008 caused secondary trading volumes to outstrip primary issuance more than twofold as credit risk seeped into the sector and de-leveraging hedge funds were forced to sell cat bonds.