Consumer ABS

Subprime credit default swap prices swung upward for the sixth straight month in April, making it the longest sustained rally of this type seen since 2007 — and it may continue, according to Fitch Solutions.

Socram Banque priced its French auto ABS called TitriSocram 2011-1, which was managed by BNP Paribas and Natixis.

Ally Bank has priced its auto floorplan securitization called Ally Master Owner Trust Series 2011-3 (AMOT 2011-3). It was upsized to $750 million from $500 million.

MarketAxess Holdings launched its electronic trading for consumer-backed ABS and preferred stocks on its e-trading platform.

Ally Bank has launched its Ally Master Owner Trust Series 2011-3 (AMOT 2011-3). It was upsized to $750 million from $500 million.

Fitch Ratings has set up a page of performance markers for structured finance deals across the globe on its web site, the agency said today. The page will link to over 40 performance-based products, and in part is a response to investor demands for more transparency. Among its features are U.S. RMBS performance and loss metrics, Australia’s RMBS Dinkum Index, and the Mexican RMBS Performance Update.

The Financial Industry Regulatory Authority (FINRA) issued a trade reporting notice today regarding when to report ABS to the Trade Reporting and Compliance Engine (TRACE).

European securitization activity picked up after the Easter bank holiday lull when deal flow tapered off in April.

Aside from Ally Bank's auto deal, Hyundai Capital America (HCA) is in the market with a $1 billion prime auto loan ABS called Hyundai Auto Receivables Trust (HART) 2011-B.

The Brazilian Central Bank’s efforts to rein in consumer lending growth are bearing fruit (see table below), a development Moody’s Investors Service sees as a credit positive.