Weekly Issue Archive »

Issue 345 - 17th July

  • News Analysis

    • Risk Management

      • Risk and reward

        Leveraged credit investing becoming more complex?

        Risk appetite for leveraged diversified credit is rising with the hunt for yield. But, at the same time, the infrastructure required to access the sector has become more complex. Quantifi ceo Rohan Douglas confirms that credit has become the focus...

  • Market Reports

    • ABS

      • Auto, aircraft ABS attract attention

        Supply picked up yesterday and the US ABS secondary market saw a good variety of paper out for the bid. ABS BWIC volume increased to US$106m during the session, from only US$18m on Monday, with auto, aircraft and container bonds all circulating. Th...

    • Structured Finance

      • Euro CLO activity up

        European CLO market participants spent yesterday poring over an ABS CDO BWIC, which came out late in the day. Meanwhile, in the primary market the recently-priced Cadogan Square CLO V has sparked some debate. Yesterday's CDO bid-list traded well, a...

    • RMBS

      • RMBS dominates quiet session

        US secondary RMBS proved the most active sector in an unusually quiet session yesterday. ABS and CMBS BWIC volume totalled US$100m between them, while US RMBS topped US$500m. Non-agency paper accounted for more than half of that RMBS supply. Howeve...

  • News

    • Structured Finance

      • SCI Start the Week - 15 July

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

        PipelineThe mix of deals added to the pipeline last week was skewed towards CMBS and CLOs. Only one ABS (US$1bn Volkswagen Auto Lease Trust 2013-A) and one RMBS (US$440m NRP Mortgage Trust 2013-1) began marketing, with five CMBS and four CLOs joining...

    • CDS

      • Further CDS definitions details emerge

        ISDA has released new information on the implementation of its revised credit derivatives definitions (SCI passim). The association expects the documentation to be in place in order for contracts using the new definitions to begin trading on 20 March...

    • RMBS

      • REIT sales exacerbating MBS volatility?

        US agency mortgage REITs have had to deleverage by US$29bn in MBS since 31 March, according to Deutsche Bank estimates. Under stress scenarios where the yield curve steepens further and MBS spreads widen, MBS analysts at the bank suggest that an addi...

      • Large list looks like GSE sell-off

        Non-agency US RMBS have largely held on to their year-to-date gains, despite the uncertainty caused by suggestions of Fed tapering, whereas Treasuries and agency RMBS have been more strongly affected. The relative outperformance could open the door f...

  • Job Swaps

      • SME loan fund prepped

        Tikehau IM has been selected to manage a loan fund targeting SMEs, following a request for proposal...

    • CMBS

      • Large CRE transfer agreed

        Commerzbank has agreed to sell its UK commercial real estate portfolio to a consortium comprising We...

    • RMBS

      • NCUA RMBS action dismissed

        A federal court in Kansas has dismissed an action by the NCUA against Barclays Capital as time-barre...

      • Suit alleges ratings fraud

        Liquidators of two Bear Stearns funds have filed a lawsuit in the New York Supreme Court against McG...

      • RHG takeover bids eyed

        Australian lender Pepper has announced an unsolicited bid for RHG (formerly RAMS Home Loans), which...

  • News Round-up

      • RBS novation confirmed

        Fitch confirms that there is no rating impact following the novation by RBS NV to RBS plc, ABN AMRO...

      • AVA consultation begins

        The EBA has launched a public consultation on draft regulatory technical standards (RTS) that set ou...

      • CMHC update welcomed

        Covered bond programmes from CIBC and RBC have become the first to be registered under the Canada Mo...

    • CDO

      • Trups CDO criteria updated

        Fitch has updated its rating criteria report for Trups CDOs to include an outline of the key assumpt...

      • CDSClear expands its reach

        LCH.Clearnet has received permission to begin clearing credit default swaps for US clearing members...

      • Homex credit event called

        ISDA's Americas Credit Derivatives Determinations Committee has resolved that a failure to pay credi...

      • CLO growth underlined

        Appleby has released its inaugural 'CLO Insider' report, which provides data and analysis on the glo...

    • CMBS

      • CMBS pay-offs dip

        The percentage of US CMBS loans paying off on their balloon date registered 58.5% last month, accord...

      • GRAND redemption due

        Each of the GRAND REF note issuers are expected to prepay in full tomorrow, followed by the redempti...

    • Insurance-linked securities

      • Storm surge bond debuts

        GC Securities and Goldman Sachs are in the market with what is believed to be the first natural peri...

    • Risk Management

      • CCP consultation underway

        The EBA has launched a consultation on draft implementing technical standards (ITS) on the reporting...

      • Pre-trade tool released

        Markit has enhanced its front office analytics solution to enable financial institutions to calculat...

    • RMBS

      • Risk-sharing deal debuts

        The first in a series of hotly-anticipated Freddie Mac risk-sharing transactions (SCI 8 July) has be...


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

×