SCIWire

US ABS rolls on




Strong volumes and demand for paper is rolling on across the US ABS secondary market.

The rally throughout the stack and in all ABS sectors seen in January has continued into this month. Appetite for paper appears undiminished though the pace of spread narrowing has reduced in some areas over the past week or so as recent tights are reached.

Nevertheless investor demand remains extremely strong for longer dated and higher yielding bonds. As a result, both prime and subprime autos in particular continue to benefit and have edged in still further across the capital structure since this time last week.

After a quieter than of late session yesterday, expected BWIC volume is healthy with the pipeline building throughout the week ahead. For today, first up is a small subprime auto collection due at 9:30 New York time.

The circa $600k current face list comprises: DRIVE 2017-AA A3, DTAOT 2016-4A A, EART 2015-3A A, FCAT 2015-3 A, FCAT 2016-3 A2 and FCAT 2016-4 A1. None of the bonds has appeared on PriceABS before.

07/02/2017 14:05:27



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