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Issue 417 - 17th December

  • News Analysis

    • CLOs

      • CLO squeeze

        Risk retention puts manager consolidation in the spotlight

        CLO manager consolidation is expected to re-emerge as risk retention requirements bed down in the US. However, the process is unlikely to replicate the last wave of consolidation seen in 2010 and 2011. Oliver Wriedt, co-president at CIFC Asset Mana...

    • Structured Finance

      • China rising

        Regulators fuel Chinese issuance boom

        Chinese securitisation issuance has rocketed this year as regulatory restrictions have been relaxed. A diversification of issuers and asset types is also boosting issuance as part of a virtuous circle of growth, although the strength of potential inv...

  • Market Reports

    • ABS

      • Secondary ABS supply accelerates

        US ABS bid-list activity yesterday rebounded from the prior session to reach total volume of around US$266m. By far the dominant product type out for the bid was auto ABS. SCI's PriceABS data captured 13 unique auto ABS tranches. While they were al...

    • RMBS

      • US RMBS remains active

        Monday's quiet US non-agency RMBS session threatened to set the tone for a slow week, but bid-list activity picked up sharply yesterday across nearly all collateral segments to inject life back into the market. Tuesday's session saw almost US$750m of...

  • SCIWire

    • Secondary markets

      • US CLO activity edges up

        After a quiet start to the week the US CLO secondary market is seeing a little more activity today w...

      • European ABS/MBS patchy

        European ABS/MBS secondary continues to see patchy trading as year-end and broader macro concerns re...

      • US RMBS boosted by vol

        The US non-agency RMBS secondary market has been boosted by the broad market volatility seen this we...

      • US CLOs tick over

        As trading volumes fade further into year-end across most markets, the US CLO BWIC schedule is still...

      • US CMBS keeps calm

        Healthy BWIC volumes in US non-agency CMBS are continuing into this week and appear to be driven by...

      • Testing time for US CLOs

        On- and off-BWIC the US CLO market is currently being tested. There has been a surge in BWICs circ...

  • News

    • Structured Finance

      • SCI Start the Week - 15 December

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

        Pipeline The pace of deals joining the pipeline noticeably slowed last week. At the final count there was one new ABS and one RMBS as well as three CMBS and three CLOs. The ABS was US$302m Edsouth Indenture No.8 Series 2014-4 and the RMBS was RUB4...

  • Job Swaps

    • Structured Finance

      • Broker tie-up announced

        BGC Partners has acquired the UK assets and subsidiaries of RP Martin Group. The firm expects to acq...

    • CLOs

      • Man adds to CLO stable

        Man Group has entered into a conditional agreement to acquire Silvermine Capital Management, the Con...

    • Insurance-linked securities

      • ILS reinsurer launched

        Sequant Re has launched as a new global collateralised reinsurer. It will combine ILS and Bermuda's...

      • BAML pair tapped for Japan

        Wells Fargo Securities has added Tomomi Kikuchi as md and head of Asia RMBS trading and Japan sales....

  • News Round-up

      • C&E ABS gaining traction

        The growing US economy is set to support good performance in US ABS backed by a range of commercial...

    • Structured Finance

      • LatAm outlook solid

        Fitch foresees a stable credit environment for Latin American structured finance (SF), despite slowi...

      • ESMA releases CRA findings

        ESMA has released a report on the findings of its investigation into the way credit rating agencies...

      • Stable outlook for APAC

        Fitch expects the ratings and asset sector performance of Asia-Pacific structured finance (SF) trans...

      • Flexible fund launched

        Angel Oak Capital Advisors has launched the Angel Oak Flexible Income Fund. The fund will actively a...

      • Euro CRE activity strong

        Increased activity in the CRE lending and investment markets is positive for European CMBS, says Moo...

    • Insurance-linked securities

      • ILF rating criteria debuts

        AM Best has released what is believed to be the first rating criteria specifically focused on insura...

      • Analytics tool updated

        Quantifi has released the latest version of its software platform. Quantifi Version 12.1 updates inc...

      • XVA service unveiled

        Numerix has launched a single platform for enterprise level risk management and front office risk ca...

    • RMBS

      • ESAIL restructuring inked

        Fitch has withdrawn its ratings on Eurosail-UK 2007-4BL's class A3a, A3c and B1a notes and assigned...

      • Strong outlook for US RMBS

        Strong underwriting standards, third-party reviews and the implementation of risk retention rules wi...

      • RFC issued on Irish RMBS

        S&P is requesting comments on its proposed methodology and assumptions for rating Irish RMBS...


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