Investment-grade average CDOs showed a significant increase in volume in 2000 compared to 1999 - to the tune of 450% - and 2001 is expected to be a strong year as well, according to panelists at last week's 2001: A CDO Event.

With the current flight to quality, Salomon Smith Barney is projecting volume to top $11 billion this year, compared to $5.6 billion in 2000. Salomon brought to market Travelers Funding Ltd, the first investment-grade average deal, in 1998.

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