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Issue 216 - 12th January

  • News Analysis

    • RMBS
      • Wider impact

        Foreclosure ruling sparks RMBS loss severity concerns

        The Supreme Judicial Court of Massachusetts (SJC) last week declared that trustees may foreclose on unrecorded mortgages if they can demonstrate ownership of those mortgages. The court also rejected evidence which had been presented to the lower Land...

  • Market Reports

    • ABS
      • Euro ABS gathers momentum

        European ABS activity is beginning to pick up again after its year-end wind-down. Despite the spread widening seen last week, traders maintain a positive outlook for the sector during the first quarter. "It was pretty quiet at the start of last wee...

    • CLOs
      • Bid-list anticipation dominates CLO market

        CLO market participants are eagerly awaiting trading on a 43-item bid-list due today, which could significantly impact sentiment going forward. At the same time, European CLO activity lags behind the US, where pricing levels in mezzanine paper have t...

  • News

    • CDS
      • Euro sovereign-corporate CDS trades recommended

        Concerns about peripheral Europe have increasingly affected the CDS spreads of core European sovereigns in the past two months, creating dislocations in the sovereign-corporate CDS relationship of core Europe. Indeed, credit strategists at Barclays C...

    • CLOs
      • CLO investor demand underscored

        Over half (58%) of the respondents polled in JPMorgan's latest global CDO client survey say they plan to add CLO exposure this year. Indeed, buyers in the sector outnumber sellers by a ratio of about 5:1, up from about a 3:1 ratio one year ago. 120...

    • CMBS
      • Tiering expected for German multifamily CMBS

        Values for properties securing German multifamily loans in European CMBS are estimated to have decreased by 16% on average since origination. However, the risk of principal loss remains low for over half of the current securitised loan balance, accor...

  • Job Swaps

    • ABS
      • Asia trust head appointed

        Citi has appointed Adrian Nye as regional head of its agency and trust business in the Asia Pacific...

      • Italian SF counsel hired

        Bird & Bird has hired Silvia Morlino as counsel in its banking and finance group, to develop...

    • CDO
      • CDO vet replaced

        Paul Czekalowski, global head of FICC structuring at UBS, is understood to have left the bank. Paul...

    • CLO Managers
    • CMBS
      • CRE vet moves on

        Ellington Management Group has appointed Leo Huang as a portfolio manager in its commercial real est...

      • CMBS partner appointed

        Sidley Austin has appointed Kevin Blauch as partner in its structured finance and securitisation pra...

      • CRE md named

        NAI Global has appointed Peter Ruggiero as md in its global capital markets team. He is tasked with...

    • Distressed assets
    • RMBS
      • Promotion for SF attorney

        Lowenstein Sandler has promoted attorney Jonathan Wishnia to become a member of the firm in its corp...

      • MBS trio recruited

        Amherst Securities Group has recruited Peter Davidson, Chris Heaney and Chris O'Neill to help expand...

      • Promotion for MBS vet

        Fortress Investment Group has promoted Greg Finck as head of its newly created mortgage and asset-ba...

  • News Round-up

    • CDO
      • New Abacus suit filed

        ACA, the bond monoline insurer now operating in run-off mode, has filed a lawsuit against Goldman Sa...

    • RMBS
      • Prime Dutch RMBS rated

        Moody's has assigned provisional ratings to six classes of the Dutch RMBS, ARENA 2011-I, totalling &...

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