Weekly Issue Archive »

Issue 364 - 27th November

  • Market Reports

    • CLOs

      • Sub tranches dominate CLO session

        US CLO secondary market trading saw a lot of sub tranches out for the bid yesterday. SCI's PriceABS data captured a number of names, with several achieving covers. Vintages varied, from 2006-vintage paper such as AMMC 2006-6A SUB (which wa...

    • CMBS

      • Euro traders in CMBS 'food fight'

        European CMBS traders have been inundated with BWICs over recent weeks as the market remains busy in the run-up to year-end. Bid-lists have been trading strongly and SCI's PriceABS data shows that yesterday's session was no exception. "In some ways...

      • CMBS spreads start to tighten

        US CMBS secondary spreads have been flat for a while, but tightening was observed yesterday for 2.0 and 3.0 bonds after legacy AMs and AJs moved modestly tighter at the end of last week. Monday's BWIC volume reached just under US$100m, with a mix of...

  • News

    • ABS

      • Punch ups the ante on restructuring

        Punch's latest financial results raise the probability of the group removing its support of its securitisations as another round of restructuring proposals begins next month. Without an agreement on the restructuring, a borrower event of default in P...

    • Structured Finance

      • SCI Start the Week - 25 November

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

        PipelineA further 15 deals were added to the pipeline last week, with all asset classes represented. As well as four new ABS and one ILS, three RMBS, five CMBS and three CLOs were announced. The ABS joining the pipeline comprised: CNH Capital Canad...

    • CLOs

      • CLO managers sticking to the familiar?

        Positive asset selection trends are emerging among US CLO 2.0 transactions. However, individual managers appear to be re-using collateral across multiple deals, thereby increasing concentration risk. The average collateral overlap between any two 2...

    • RMBS

      • Obstacle to Watt's confirmation removed

        The route has been cleared for Mel Watt to be confirmed as the next FHFA director after the US Senate approved rules to allow nominees to be confirmed with a simple majority vote. After receiving 56 votes on his first nomination attempt (SCI 1 Novemb...

  • Job Swaps

      • Broker names new coo

        ICAP has promoted Ken Pigaga to global coo, reporting to ceo Michael Spencer. He will be based in Lo...

  • News Round-up

      • US ABS returns highlighted

        The US ABS market saw a year-to-date total return of 0.74%, as of 30 September 2013, according to th...

    • Structured Finance

      • Positive outlook for sukuk

        Global sukuk issuance is likely to maintain its positive long-term growth trends, says Moody's, driv...

      • SME agreement signed

        The European Investment Bank and Banco Santander have signed a €234.6m agreement to set up...

    • CDO

      • RFC issued on PF CDOs

        S&P has requested comments on proposed changes to its methodology and assumptions for rating...

      • ABS CDO auction due

        An auction has been scheduled for the Pinetree CDO on 18 December. The securities will only be sold...

      • OGX auction scheduled

        The auction to settle the credit derivative trades for OGX PETROLEO E GAS PARTICIPACOES S.A. CDS is...

      • Swaps report initiated

        The CFTC has launched the 'CFTC Weekly Swaps Report', which aims to provide the public with a detail...

    • Risk Management

      • TPO performance improving

        Recent residential mortgages initiated by third-party brokers and correspondent lenders have been pe...

      • FedTrade prepped for MBS

        The New York Fed's open market trading desk is set to test its ability to conduct agency MBS transac...

      • LMI sensitivity examined

        The sensitivity of Australian triple-A rated prime RMBS to lenders' mortgage insurance (LMI) provide...


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