Weekly Issue Archive »

Issue 425 - 18th February

  • News Analysis

    • Structured Finance

      • Great divide

        ABS eligibility gap sparking investor rotation

        The ECB ABSPP-inspired rally has resulted in significant spread tiering between eligible and ineligible European ABS bonds. As investors are increasingly priced out of eligible assets, a trickle-down effect is spurring a dash for euro-denominated and...

    • RMBS

      • Poor vintage?

        Caution urged on recent Australian mortgages

        Australian RMBS issuance has increased, but so too have concerns regarding the underlying loans. House prices continue to rise unchecked, while underwriting standards are also coming into question, suggesting that investors should focus on more prove...

  • SCIWire

    • Secondary markets

      • US CMBS ticking over

        While most US secondary structured finance markets have been all but non-existent during the Vegas c...

      • Euro ABS/MBS dampens down

        Secondary European ABS/MBS activity has dampened down once more as participants step away amid broad...

      • US RMBS looks to tomorrow

        The US non-agency RMBS secondary market is still fairly quiet post-Vegas, but tomorrow should see re...

      • Peripherals take attention

        Peripheral paper is receiving increased attention in the European ABS/MBS secondary market. On the...

      • Euro CLO BWICs building

        The auction calendar for European CDOs/CLOs is building strongly for this week. Increasing seconda...

      • Euro ABS/MBS keeps calm

        As anticipated with the US holiday the European/ABS secondary market was reasonably calm yesterday a...

      • US CLOs strengthen

        The US CLO secondary market has returned from the Vegas conference and yesterday's public holiday wi...

  • News

    • ABS

      • Renewal risk highlighted

        American Express is set to end its US co-brand relationship with Costco Wholesale Corporation on 31 March 2016. AMXCA charge-offs and delinquencies could rise as a result, although the move is expected to have a negligible impact on the ratings of Am...

    • Structured Finance

      • SCI Start the Week - 16 February

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

        Pipeline It was an understandably quiet week for the pipeline as market participants attended the annual industry conference, ABS Vegas 2015. There were five new ABS announced, as well as three RMBS, two CMBS and two CLOs. The ABS were: US$265.94m...

    • CLOs

      • CLO demand capacity gauged

        Amid slower origination levels and a fading legacy CLO bid, CDO strategists at JPMorgan have updated their CLO reinvestment model to project global CLO liquidity over the next few years. They forecast US$524bn in demand capacity from both US and Euro...

    • CMBS

      • Short-duration trades touted

        Around €4.4bn of EMEA CMBS loans are scheduled to mature in 2015, with about half of them expected to repay at maturity. Many of these loans are large and could result in significant principal payments for senior noteholders. About &#...

  • Job Swaps

    • Structured Finance

      • Islamic finance head hired

        Fitch has appointed Bashar Al Natoor as global head of Islamic finance, based in Dubai. In this new...

    • CLOs
    • Insurance-linked securities

      • Entropics fund operational

        SEF Entropics Cat Bond Fund is now open to subscriptions, becoming the first fund specialised in cat...

  • News Round-up

      • Valuation RFPs issued

        The US NAIC has released RFPs from vendors to produce valuations for state insurance regulators to s...

      • APAC loss rate falling

        Fitch says that losses on rated Asia Pacific structured finance (SF) transactions issued between 200...

      • EMEA losses better US rate

        The estimated total losses from European securitisation bonds are small relative to those of the US,...

      • CMU consultation underway

        The European Commission has launched its landmark Capital Markets Union (CMU) project, which aims to...

    • CDO

      • Trups default drop minimal

        US bank Trups CDO combined defaults and deferrals marginally decreased to 21% at end-January, accord...

    • CDS

      • OTC amendments proposed

        The Monetary Authority of Singapore (MAS) has proposed legislative amendments to the Securities and...

      • CDS auctions due

        The auction to settle the credit derivative trades for Caesars Entertainment Operating Company Inc C...

      • RFC issued on CCP rule

        The Canadian Securities Administrators (CSA) have published for comment proposals on the rule for na...

    • Insurance-linked securities
    • Risk Management

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