The sun is shining and optimism is reigning in the world of collateralised debt obligations. Well, not quite. But the cold chill in the markets does appear to have thawed and the long suffering specialists in the complex credit markets are not quite as despondent as they once were.
CDOs, of course, were the villains of the financial crisis. The vehicles of debt, which was backed by a dizzying array of other debt, exploded in such spectacular fashion in 2007 - triggering meltdown at many an institution.