SCIWire

Euro ABS/MBS quiet

Tuesday 9 May 2017 09:26 London/ 04.26 New York/ 17.26 Tokyo

Despite the resolution of the French presidential election the European ABS/MBS secondary market remains quiet.

"Overall, it's still very quiet," says one trader. "We had a new Bavarian SKY issue announced yesterday, but that's the first primary deal in a few weeks."

The trader continues: "In secondary not much happened between the two rounds of the French presidential election. We're hoping things will begin to pick up now, but there is no sign of that yet."

Meanwhile, pricing levels are broadly unchanged. "Secondary spreads are stable," the trader says. "If anything there's a slight tightening bias, but that's mainly a result of the lack of supply."

There are currently three BWICs on the European ABS/MBS schedule for today. The largest piece in for the bid is a single-line auction at 14:00 London time of £20m PARGN 13X A2A. The bond hasn't appeared on PriceABS in the past three months.

09/05/2017 09:26:21