Weekly Issue Archive »

Issue 395 - 16th July

  • News Analysis

    • CLOs

      • Accelerated evolution

        Rapid pace of change as CLO market grows

        US CLO issuance has reached record pace this year, as innovations driven by both regulatory demands and investor behaviour ensure that the product continues to develop. Deal sizes have grown, structures have evolved and new managers have tapped the m...

  • Market Reports

    • ABS

      • Secondary ABS supply picks up

        US ABS bid-list volume was up yesterday to more than US$230m, with SCI's PriceABS data revealing several student loan tranches out for the bid. Dealer offering levels were mostly unchanged, while auto paper was also available. In the student loan s...

      • Euro ABS activity encouraging

        The seasonal summer slowdown has not yet set in for the European ABS market. While the secondary market might be softening a little, activity in the primary market continues at good levels. "We are still seeing new deals being announced in...

      • SLABS bring secondary market boost

        US ABS BWIC volume reached around US$200m yesterday, with student loan and credit card bonds driving issuance higher than it had been to start the week. Much of the supply came from a US$108m list of FFELP bonds. SCI's PriceABS data captured a weal...

  • News

    • Structured Finance

      • SCI Start the Week - 14 July

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

        Pipeline Several deals were added to the pipeline last week, including a large number of CLOs. As well as four ABS, three RMBS and two CMBS there were nine new CLOs sitting in the pipeline at the week's end. The ABS were US$385m Consumers 2014 Sec...

    • CDS

      • Definitions' economic impact projected

        The 2014 ISDA Credit Derivatives Definitions contain a number of changes that are likely to impact the economic value of new financial CDS contracts, potentially bringing them more in line with the economics of the underlying cash bonds. JPMorgan cre...

    • RMBS

      • ESAIL picks highlighted

        2007-vintage Eurosail RMBS continue to attract headlines due to their unhedged FX exposure and associated restructuring activity (SCI passim). Nevertheless, European asset-backed analysts at JPMorgan suggest that ESAIL bonds offer interesting entry p...

  • Job Swaps

    • Structured Finance

      • Credit vet moves on

        Peter McLaughlin has joined mid-market specialist Medley Capital in New York. He joins from CIFC, wh...

    • Insurance-linked securities

      • ILS leader takes top job

        HSZ Group has named Stefan Kräuchi as ceo and partner. He joined the company two years ago...

      • Cantor boosts RMBS team

        Cantor Fitzgerald has expanded its MBS sales and trading team with the appointments of Cass Tokarski...

  • News Round-up

    • CDO

      • FDIC auction due

        The first in a series of private FDIC bank Trups CDO auctions has been scheduled for 17 July (SCI 24...

      • RFC issued on muni CDOs

        Moody's is seeking comments from market participants on its proposed rating approach for CDOs backed...

      • ABS CDO on the block

        An auction has been scheduled for Birch Real Estate CDO I on 23 July. The collateral shall only be s...

      • WPG taps CMBS financing

        Simon Property Group formally completed its spin-off of 54 strip centres and 44 malls to Washington...

      • FVPO expenses clarified

        C-III Asset Management has issued a clarification pertaining to the US$60.8m Rock Point Corporate Ce...

    • Insurance-linked securities

      • ILS diversification eyed

        In sharp contrast to December when seven catastrophe bonds priced with a spread of 625bp or greater...

      • MAR consultation underway

        ESMA has launched a consultation on the new Market Abuse Regulation (MAR), which entered into force...

      • Servicing guidance slated

        The FHFA is set to issue guidance by 1 December aimed at ensuring that non-bank servicers meet curre...

      • Russian LMI rules defined

        The Russian State Duma last month approved a number of amendments to several articles of the Federal...

      • SIV bid-list trades

        US non-agency RMBS supply has been scarce so far this week, with the focus dominated entirely by the...

      • WaMu case progressing?

        JPMorgan and FDIC have filed their motions for summary judgement in the Washington Mutual rep and wa...


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