Secondary markets

The post-issuance trading or buying and selling of instruments, including, but not exclusively, asset-backed securities or ABS; commercial or residential mortgage-backed securities or MBS or CMBS or RMBS; collateralised debt obligations or CDOs; and collateralised loan obligations or CLOs takes place in the secondary market. Prices established in the secondary market are seen as an efficient means of deriving the value of similar products for valuation purposes.

  • SCI Start the Week - 13 July

    A review of securitisation activity over the past seven days

    Last week's stories Arch restarts MILNs Relaunched Bellemeade Re 2020-1 priced Collection boo...

    News    13 July 2020
  • Pricing recalibration

    NPL ABS market growth pending?

    The EBA’s opinion (SCI 24 October 2019) and more recently the Basel Committee’s...

    News Analysis    9 July 2020
  • CPR for CRT from Freddie

    Freddie Mac's new upsized STACR shows market is healthy

    Freddie Mac has demonstrated that reports of the death of the CRT bond market are greatly exaggerate...

    News Analysis    9 July 2020
  • Volcker revision impact modest

    Sector developments and company hires

    Volcker revision impact modest The impact of the changes made to the Volcker Rule (SCI 26 June) wil...

    Market moves    6 July 2020
  • NPL platform launched

    Debitos announces doValue partnership

    DoValue has established an online NPL trading platform dubbed doLook, via an exclusive partnership i...

    News    24 June 2020
  • Test case scenario?

    US bankruptcy dispute could provide a template for CLO managers

    US-based marketing firm Acosta's bankruptcy filing and resultant disagreement between its lo...

    News Analysis    23 June 2020
  • SCI Start the Week - 22 June

    A review of securitisation activity over the past seven days

    FREE - Capital Relief Trades Virtual Panel - LIVE Join SCI live again this Thursday, 25 June, for a...

    News    22 June 2020
  • Seductive specifieds

    An investor's view

    SCI spoke to Brendan Doucette, government bond portfolio manager of GW&K Investment Manageme...

    The Structured Credit Interview    18 June 2020
  • Structural hurdles

    US CLO managers face restructuring challenges

    Restructurings and workouts are an increasing focus for US CLO managers as credit deterioration cont...

    News Analysis    18 June 2020
  • Next step

    Debut CLO part of platform roll-out

    BlueBay Asset Management priced its first CLO on Monday inside recent primary tights and despite the...

    News Analysis    17 June 2020
  • SCI Start the Week - 15 June

    A review of securitisation activity over the past seven days

    Last week's stories Addressing inconsistencies Performance metrics switched Calabria confiden...

    News    15 June 2020
  • Californian auto loans eyed

    Sector developments and company hires

    Californian auto loans eyed The Westlake Automobile Receivables Trust 2020-2 issuer has disclosed t...

    Market moves    12 June 2020
  • Risky retention

    Haircuts become more severe in Covid 19 world

    Issuers of mortgage-backed bonds are at the moment finding it increasingly difficult to fund the ris...

    News Analysis    12 June 2020
  • Synergy search

    CLO manager consolidation to stay sporadic?

    There have been a flurry of CLO manager mergers and transfers recently (SCI passim). However, the ne...

    News Analysis    11 June 2020
  • Changing focus

    US CLO primary garners more attention

    Retracement in the US CLO secondary market has been rapid. Now, bolstered by the belief, misguided o...

    News Analysis    9 June 2020
  • Spread compression

    European ABS market update

    The rally in broader risk assets and the lack of new supply has boosted demand for paper in the Euro...

    News    9 June 2020
  • CLO business integrated

    Sector developments and company hires

    CLO business integrated RBC’s US-based CLO management business is being integrated into B...

    Market moves    8 June 2020
  • SCI Start the Week - 8 June

    A review of securitisation activity over the past seven days

    FREE - Capital Relief Trades Virtual Panel - LIVE For a discussion on how the Covid-19 fallout has...

    News    8 June 2020
  • Experience counts

    CLO managers surveyed

    Manager differentiation remains a key issue in the CLO market, with many investors focusing on indiv...

    News    4 June 2020
  • Long road ahead

    CLO secondary pricing action premature?

    Sentiment in the CLO secondary market is overwhelmingly positive, which is showing up in recent pric...

    News Analysis    3 June 2020
  • Managers measured

    CLO manager pandemic performance quantified

    US CLO managers have worked harder than ever before to reduce triple-C exposure and build par in unp...

    News    2 June 2020