CoCo Market Set To Enjoy A Pop

Just when it looked as if contingent convertible bank bonds - otherwise known as 'CoCos' - were set to play nothing more than a supporting role in the banking sector going forward, the ongoing Eurozone debt crisis has strengthened calls for them to be brought into centre stage. With their backs against the wall and a new round of thorough stress test being initiated by the European Banking Authority (EBA), the region's lenders are viewing CoCos in an increasingly favourable light and sizing them up as the potential antidote to an ongoing problem.

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