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Punch B upside expected

1 August 2014

With the ABI special committee now supporting the latest Punch restructuring proposal (SCI 22 July), it now appears likely that the restructuring could be completed within the next six months. European asset-backed analysts at Barclays Capital see most upside in the Punch B securitisation under this scenario, given that the Punch A class B notes ha...

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US ABS activity picks up

31 July 2014

After a slow start to the week, yesterday's session brought an increase in US ABS secondary market activity. BWIC volume climbed to US$184m as SCI's PriceABS data captured 28 unique US ABS tranches, including a number of auto and student names. A striking number of auto ABS tranches were making their first appearance in the PriceABS archive. Thes...

© Elf

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Strong secondary CLO supply

30 July 2014

The US CLO secondary market was busy yesterday, with SCI's PriceABS data capturing 62 unique US CLO tranches on bid-lists. Paper from the length of the capital stack was out for the bid and various vintages were represented. One of the more recently issued tranches was AMMC 2014-14A A1L, which was appearing in PriceABS for the first time. The tra...

© Jonathan McIntosh

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Experts endorse settlement

29 July 2014

Independent experts consulted by RMBS trustees on the adequacy of JPMorgan's proposed settlement have made their recommendations public. Barclays Capital RMBS analysts note that the experts' opinions generally support accepting the settlement for a majority of deals. The cash payout as a ratio of expected lifetime losses in the JPMorgan settlemen...

© L.Miguel Bugallo Sanchez

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