European RMBS performance has remained robust in the face of unprecedented stresses brought about by Covid-19, supported by a number of government schemes. However, questions remain over how the withdrawal of these measures will affect the market.
“The structures have done what they have been designed to do and they have been robust – that is a positive story from an RMBS perspective,” observes Alastair Bigley, senior director, sector lead European RMBS at S&P.
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