SCIWire

Euro secondary boosted




The European securitisation secondary market has been boosted by the first round result in the French presidential election.

Trading activity picked up yesterday and the BWIC calendar is slowly growing albeit from very low recent levels. The elements of softness seen last week have reversed and secondary spreads across ABS/MBS and CLOs are flat to slightly tighter.

There are currently two BWICs on today's European schedule. Both are due at 14:30 London time.

One involves 37.698m original face from four PARGN triple-As - PARGN 12X A2B, PARGN 13X A2B, PARGN 14X A2A and PARGN 14X A2B. The other is a four line RMBS mix comprising: €2.5m CFHL 2015-2 D, €2m or €4m RMACS 2006-NS1X B1C, £500k WARW 1 E and £1m WARW 2 F.

None of the above bonds has covered on PriceABS in the past three months.

25/04/2017 09:16:40



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