Weekly Issue Archive »

Issue 321 - 30th January

  • News Analysis

    • Structured Finance

      • Secured future?

        Euro ABS, covered bond convergence contemplated

        A growing number of banks are combining their European ABS and covered bonds research under the umbrella term of 'secured funding'. Although the investor bases remain distinct for each product, the move could mark the start of a convergence between t...

    • RMBS

      • Rallying call

        Price correction warning for non-agency RMBS

        The US non-agency RMBS market rallied significantly in 2012, providing double-digit returns for many. However, as investors continue to enter the sector as a play on the housing recovery, profit-taking is expected to prompt a price correction in the...

  • Market Reports

    • Structured Finance

      • Euro ABS investors take stock

        After a strong start to the year, the European ABS market has quietened down over the last week or so. The secondary market remains limited to BWIC activity, while the primary market has seen a couple of deals announced. "A couple of auto deals hav...

    • RMBS

      • RMBS flurry in bumper session

        Yesterday proved to be a bumper session for the secondary markets - as shown by SCI's PriceABS data, which reached a single-session record of 700-plus line items. Activity was seen across the board, with US RMBS alone contributing over US$3...

  • News

    • Structured Finance

      • SCI Start the Week - 28 January

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

        PipelineIn a week dominated by new issuance, only three deals joined the pipeline and remained there by the week's end. These included two auto ABS and one CMBS. The auto ABS comprise US$538m Ford Auto Securitisation Trust Series 2013-R1 and &#...

      • Agency RMBS under pressure?

        ABS analysts at Bank of America Merrill Lynch suggest that a rotation out of bonds into equities will likely be the dominant story for 2013, as markets in the US transition from deflation and deleveraging to a normalisation of growth, rates and risk...

    • CMBS

      • Legacy CMBS windfall could be repeated

        What was originally the triple-B class in BSCMS 2007-PW18 has received an interest payment that exceeded the principal balance by nearly four times. CMBS analysts at Deutsche Bank believe that such windfalls could become more common this year as loan...

      • CMBX.6 credit curve flattening expected

        CMBX.6.BBB- spreads were approximately 30bp cheap versus similarly-rated cash bonds, following the launch of the index last Friday (SCI 7 January). The credit curve is expected to flatten as levered long positions are put on the lower-rated tranches...

  • The Structured Credit Interview

    • Structured Finance

      • The big picture

        Christopher Long, president at Palmer Square Capital Management, answers SCI's questions

        Q: How and when did Palmer Square Capital Management become involved in the structured finance markets? A: Palmer Square was really set up in 2009 to take advantage of opportunities within credit, allowing us to exploit many opportunities within str...

  • Job Swaps

      • Lyxor expands in credit

        Lyxor Asset Management is strengthening its presence in the UK and expanding into managed credit sol...

      • Appleby adds CLO vet

        Appleby has added Ian Gobin to its Cayman practice, further strengthening its global funds and finan...

      • ARC taps CRE pros

        American Realty Capital (ARC) has recruited Donald MacKinnon and Nicholas Radesca as senior managers...

    • Insurance-linked securities

      • Nephila gains new partner

        KKR has acquired a 24.9% interest in Nephila Capital. Shares will be acquired pro rata from Nephila...

    • RMBS

      • GE lawsuit settled

        The FHFA has voluntarily dismissed its lawsuit against General Electric, resulting in the first sett...

      • Mortgage vet moves on

        Stonegate Mortgage Corporation has recruited Eric Scholtz as evp of structured finance. He will repo...

  • News Round-up

    • CDO

      • CBO on the block

        An auction has been scheduled for 13 February for Trainer Wortham First Republic CBO III. The collat...

      • CDO auction due

        An auction is to be conducted for Margate Funding I , an ABS CDO, on 15 February. The collateral wil...

      • Trups CDO on the block

        An auction has been scheduled for Libertas Preferred Funding I on 19 February. The collateral will o...

      • Second ABS CDO auction set

        A second auction for Duke Funding High Grade I is to be held on 20 February. An auction was previous...

    • CLOs

      • FATCA reprieve for CLOs

        The final rules pertaining to the implementation of the Foreign Account Tax Compliance Act (FATCA) p...

      • Cairn CLO takes shape

        Credit Suisse is circulating the preliminary capital structure of Cairn Capital's long-awaited &...

      • CLO 2.0 call risk eyed

        With US$8.3bn issuance from 15 US CLOs, January month-to-date has already surpassed last November to...

    • CMBS

      • Eminent domain rejected

        The San Bernardino County Homeownership Protection Program Joint Powers Authority Board last week re...


Print this issue Click here to access this issue in print format

×