SCIWire

Euro secondary unchanged

Tuesday 14 February 2017 09:04 London/ 04.04 New York/ 17.04 Tokyo

Activity in the European securitisation secondary market is little changed from that seen in recent weeks.

Flows remain light across all sectors as sellers remain largely absent amid continuing positive market sentiment. The few BWICs that do crop up are still met with very strong demand and secondary spreads are consequently holding tight.

There is currently one BWIC on the European schedule for today. At 14:00 London time there is a 16 line 70.22m euro- and sterling-denominated mix of UK non-conforming RMBS.

The list comprises: EHMU 2007-2 M1, ESAIL 2006-1X B1A, ESAIL 2007-6NCX A3A, KMS 2007-1X M1A, LGATE 2008-W1X BB, MFD 2008-1 A3, MORGT 2014-1 C1, SLT 1 B, SLT 1 C, SLT 1 D, SLT 2 B, SLT 2 D, SPS 2006-1X B1C, TRINI 2015-1X B, WARW 1 B and WARW 1 C. Only WARW 1 B and WARW 1 C have covered on PriceABS in the past three months - at 97.477 on 8 February and 95.33 on 16 November, respectively.

14/02/2017 09:04:51