SCIWire

Euro secondary stifled




The hoped for boom in the European securitisation secondary market this week is being stifled.

Market sentiment remains very positive bolstered by the rally in wider markets, but sellers remain thin on the ground as most investors seek to retain current positions. Consequently, flows and BWIC volumes have eased as the week has progressed, but secondary spreads are holding firm across the board.

There are currently three BWICs on the European schedule for today. The largest of which is a £26.7m three line UK non-conforming list due at 15:00 London time and comprising: LMS 1 D, MARS4 4X E1C and MFD 2008-1 B2. None of the bonds has appeared on PriceABS in the past three months.

In addition, there are two single line item auctions - €3.2m of consumer ABS SCGC 2015-1 D at 15:00 and €5m of CLO OCI 2007-1X E at 15:30. Neither bond has covered with a price on PriceABS in the past three months.

27/04/2017 09:20:49



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