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Issue 303 - 19th September

  • Market Reports

    • ABS
      • Euro auto ABS circulating

        European secondary ABS supply was dominated by auto paper yesterday. A rally in the sector saw many...

    • CMBS
      • CMBS spreads grind tighter

        US CMBS secondary spreads came in markedly yesterday as the market continues to grind tighter. SCI's PriceABS BWIC data has 111 line items for the session, with supply remaining steady if unspectacular. Interactive Data figures place CMBS bid-list...

      • Secondary spreads still tightening

        Monday's session demonstrates just how far spreads in the US CMBS secondary market have tightened over the last few weeks. Trading activity yesterday was relatively light, but paper that changed hands did so at tight levels. SCI's PriceABS BWIC dat...

  • News

    • ABS
      • Esoteric ABS capital treatment critiqued

        Certain non-traditional ABS sectors are vulnerable to spiking to 100% risk-based capital requirements under the new US bank trading book rules, owing to their non-conformity with classic consumer ABS structures, performance measurement and regulatory...

      • Volume forecasts revised higher

        Structured products strategists at Wells Fargo predict that total US consumer ABS issuance will reach US$170bn for full-year 2012 - approximately a 60% increase over 2011. They expect about US$20bn of new consumer ABS in September alone, as...

    • Structured Finance
      • SCI Start the Week - 17 September

        A look at the major activity in structured finance over the past seven days

        Pipeline Activity last week was dominated by deals pricing, but a few names also joined the pipeline. These included two Australian securitisations and three CMBS. The Aussie deals comprised: Impala Trust No.1 - Sub Series 2012-1, a A$232.5m medic...

    • CLOs
      • CLO 1.0, 2.0 compared

        The strong new issue US CLO market has sparked debate over the relative value of primary (CLO 2.0) versus legacy (CLO 1.0) deals. A new analysis questions whether the spread pick-up of legacy CLOs is sufficient to compensate for the additional risk o...

  • Job Swaps

    • ABS
      • IFM makes Euro expansion

        Industry Funds Management (IFM) has appointed David Cooper as investment director for its debt inves...

      • Bad bank created

        Deutsche Bank is set to establish a bad bank under its recently announced Strategy 2015+ plan, which...

    • CDO
      • CLO specialist makes move

        Neil Hamilton is joining Paul Hastings in London as partner. He specialises in CLOs and CDOs and wil...

      • Manager transfer blocked

        A proposal to replace Invesco Senior Secured Management with 3i Debt Management Investments as colla...

    • CMBS
      • Multifamily duo recruited

        Prudential Mortgage Capital Company has expanded its multifamily team, naming Patrick McAllister and...

  • News Round-up

    • Structured Finance
      • IASB update welcomed

        The IASB has issued a draft of its long-planned update of general hedge accounting rules. Moody's su...

      • Euro reporting improving

        Better reporting in EMEA structured finance transactions has seen nearly one-third of deals merit a...

    • CDO
      • ABS CDO auction due

        Wells Fargo, as trustee for the transaction, will conduct an auction for RFC CDO I on 1 October. The...

    • CLOs
      • SHP model enhanced

        Fitch's sustainable home price model (SHP) now provides projections at the metropolitan statistical...

      • Fresh twist from Fed

        Operation Twist had been expected to continue with around US$50bn of Treasury and agency MBS purchas...

      • MRP fights back

        Mortgage Resolution Partners (MRP) has written to the FHFA contesting the agency's right to stop MRP...


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