The head of Deutsche Bank's structured finance research team, Ganesh Rajendra, started 2008 on a hopeful note. He held a conference recently at the Deutsche Bank offices in London titled A New Dawn After the Storm. Despite his display of optimism for the European securitization market, Rajendra said that the dark clouds have yet to clear completely.

For the past years, Rajendra said that the annual ABS outlook presentation targeted for investors had become mundane. But this changed because of the extraordinary events in 2H07. For these presentations, the research team would usually extrapolate on the year before and more often than not got it right, he said.

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