Finance

That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.

Traders are no longer fully pricing in a rate cut before November, while at the start of the year, cuts beginning in March were fully priced in.

Chris Hentemann, whose fund manages $6.2 billion in assets, seeks out B-piece opportunities and foresees banks executing more bulk loan sales and credit-risk transfers.

The current levels of credit enhancement are a reduction from levels of 58.0%, 48.7%, 35.9%, 22.5% and 17% on the classes A, B, C, D and E on the BLAST 2024-1 deal.

First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.

The financing outlook improved from recent surveys on a macro basis, but expectations around commercial real estate helped cloud over the credit forecast.

Fiber securitization backed by month-to-month residential fiber internet revenue didn't exist before 2022. Before that, there were some smaller transactions secured by long-term contracts.

Most of the notes will be fixed rate, but the A1B tranche could be benchmarked to the three-month Secured Overnight Financing Rate (SOFR).

Griffin was a managing director at J.P.Morgan Securities, where he ran the global primary collateralized loan obligation (CLO) business.