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Issue 314 - 5th December

  • News Analysis

    • RMBS

      • RMBS boost

        Post-election housing outlook discussed

        President Obama's re-election appears to have boosted prospects for the private label RMBS market. At the same time, prepayment-related policy risk is expected to rise under the administration. The most important outcome for the US housing market o...

  • Market Reports

    • CDO

      • CRE, Trups CDOs creep higher

        SCI's PriceABS data recorded over 100 CDO line items yesterday, with a significant number of CRE and Trups transactions represented. Prices were flat to slightly higher against Monday's session. In the CRE CDO space, a US$15m piece of CRELT 2006-1A...

    • CLOs

      • Bumper session for CLO secondary

        Supply stepped up in the US CLO and CDO secondary space yesterday. SCI's PriceABS data shows 162 CLO line items and 84 CDO line items for the session, with CLO sub and Trups paper out in force. The number of CLO BWIC line items displayed b...

    • CMBS

      • Slight widening seen in US CMBS

        US CMBS secondary spreads were quoted yesterday at swaps plus 175bp/174bp, just a little wider than the previous close of swaps plus 173bp, according to Interactive Data. SCI's PriceABS data shows a healthy amount of BWIC activity for the session, wi...

    • RMBS

      • No winter slow-down for US RMBS

        December kicked off with steady supply for the secondary US RMBS market. The non-agency sector continues to be dominated by subprime paper, with a CDO liquidation boosting the number of senior and mezz classes out for the bid. "The subprime sector...

  • News

    • Structured Finance

      • SCI Start the Week - 3 December

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

        Pipeline Last week saw nine deals join - and remain in - the pipeline. Five of these were ABS, with the remainder comprising three CMBS and a single CLO. The ABS consisted of: US$215.95m ARL First Series 2012-1, a railcar lease...

    • CMBS

      • Stuy Town court case settled

        The Roberts vs. Tishman Speyer Properties court case has been settled. The settlement removes the last significant obstacle to a sale of the Stuyvesant Town-Peter Cooper Village apartment complex and reduces the likelihood of CMBS losses. The settl...

    • Risk Management

      • Basel 3 liquidity challenges examined

        Basel 3 is introducing significant challenges to the traditional ALM product set in the way that liquidity risk is managed and reported. Such considerations are, in turn, forcing firms to approach risk management on an enterprise-wide basis. The Ba...

  • Job Swaps

    • Structured Finance
    • CDO

      • Basis CDO complaint filed

        Basis Pac-Rim Opportunity Fund and Basis Yield Alpha Fund have filed a lawsuit against TCW Asset Man...

      • Manager transfers agreed

        Halcyon Neptuno II Management has assumed from Bankia investment management responsibilities for Nep...

    • CMBS

      • CRE vet recruited

        United Realty Capital has named Craig Eastmond md. He will be based in New York and report to Barry...

  • News Round-up

    • CDO

      • ABS CDO on the block

        VCAP Securities has been retained to act as liquidation agent for Knollwood CDO II. The collateral w...

    • CDS

      • Clearing deadlines set

        The CFTC has issued new rules to require certain credit default swaps and interest rate swaps to be...

    • CLOs

      • Euro A2E activity tracked

        Fitch says in its new European leveraged loan CLO tracker report that up to 40% of the CLO portfolio...

      • Mixed outlook for US CMBS

        The overall credit quality of loans backing new US CMBS will continue to weaken in 2013, but underwr...

    • Risk Management

      • Rally seen in ABX

        The ABX index has rallied impressively in 2012. Year-to-date price appreciation for the triple-A sub...

      • Portuguese RMBS hit

        Moody's has downgraded 20 notes previously rated at the country ceiling and confirmed one note from...


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