Commercial Credit Is the New Mortgage Credit
Corporate debt products are the hot thing.
Where did all the housing bonds go?
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Meet the incredible, shrinking mortgage bond market.
In the wake of an unprecedented U.S. housing bust that evolved into a global financial crisis, the business of bundling home loans that aren't backed by the American government into bonds that can be sold to investors has all but disappeared.