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Issue 351 - 28th August

  • Market Reports

    • ABS

      • CHAIT bonds boost ABS supply

        Over US$300m of BWIC supply hit the US ABS secondary market yesterday and a significant portion of that was credit card paper from JPMorgan's CHAIT shelf. Several aircraft ABS bonds were also out for the bid. SCI's PriceABS data shows that large sl...

    • CLOs

      • C tranches cause CLO market stir

        SCI's PriceABS data shows a mix of US CLO names out for the bid yesterday. Offered tranches were biased towards 2006- and 2012-vintage paper, with talk largely concentrated in the 80s and 90s. Many of the bonds circulating in Monday's session were...

    • CMBS

      • CMBS volume recovers as spreads widen

        At US$605m, US CMBS bid-list supply was relatively heavy yesterday, as the sector recovered from a mid-week dip. Spreads have continued to widen, however, as evidenced by SCI's PriceABS data. The bulk of the day's supply was concentrated in 2004- t...

    • RMBS

      • Liquidations lead to subprime surge

        Subprime paper stole the show as US RMBS non-agency BWIC supply approached US$1bn yesterday. The glut of subprime names was driven by two CDO liquidations. SCI's PriceABS data shows one such subprime tranche to trade during the session was CWL 2005...

  • News

    • ABS

      • Commodity trade finance deal debuts

        BNP Paribas has completed what it describes as a first-of-its-kind commodity trade finance securitisation. Dubbed Lighthouse Trade Finance Issuer I, the US$131.6m transaction is designed to increase liquidity in the commodity transportation market an...

    • RMBS

      • Sales put GSEs on course

        Since announcing that the GSEs would reduce their less liquid holdings by 5% this year, at least six large non-agency BWICs have been brought to market (SCI passim). This has put them on course to achieve their reduction targets, although they may ha...

  • Job Swaps

      • Credit manager adds four

        CVC Credit Partners has strengthened its teams in Europe and the US with four new hires. Ran Landman...

      • Bank builds up UK SF team

        RBS has made three new appointments to its corporate and institutional banking division's financial...

    • RMBS

      • Motion to dismiss denied

        A California Superior Court judge has denied S&P's motion to dismiss a lawsuit filed by Cali...

  • News Round-up

    • ABS

      • QRM revision anticipated

        The federal agencies responsible for jointly promulgating the risk retention rule under the Dodd-Fra...


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