SCIWire

Euro ABS/MBS active




The European ABS/MBS secondary market is once again active without yet fully taking off.

"Secondary is now chugging along," says one trader. "There's enough going on to keep us occupied, but nothing major."

The trader continues: "There are selective opportunities, but there's no real stand-out activity. One possible exception to that is some of the racier positions from the big CDO liquidation are now emerging."

Primary activity is drawing a fair amount of focus as well, the trader adds. "The news of the two big RMBS deals attracted plenty of attention, though they're largely pre-placed, and there is some peripheral stuff which is interesting."

There are currently five BWICs on the European ABS/MBS schedule for today including a long mixed list of predominantly small clips that was due at 9:00 London time. Of those remaining the largest is a collection of Bluestone paper due at 15:00.

The £29.37m four line list comprises: BLST 2006-1 D, BLST 2007-1 CA, BLST 2007-1 DA and TRANSS 0 06/09/46 (which owns the rights to the residual interest in the Bluestone 2006 and 2007 securitisations). None the bonds has covered on PriceABS in the past three months.

06/04/2017 09:42:16



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