Financial Times FT.com

Complex debt deal volumes hit 10-year low

By Saskia Scholtes and Ben White in New York

Published: April 6 2008 23:20 | Last updated: April 6 2008 23:20

Merrill Lynch, Citigroup, UBS and other banks have seen their complex debt securities businesses wither as new deal volumes tumbled to a 10-year low in the first quarter.

First quarter new issue volumes for securities backed by US residential and commercial mortgages fell between 80 and 95 per cent year-on-year, according to data from Dealogic and Total Securitization, an industry publication.

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