Bank of America Merrill Lynch analysts in a report released yesterday referred to Markit’s iBoxx European ABS index as a “useful tool” in benchmarking and in comparing ABS to other asset classes.

"While we recognize that data for individual issue is often illiquid, we think that by measuring over a large number of issues the iBoxx indices offer a good benchmarking tool for investors and some needed transparency for trustees and asset allocators," analysts wrote. They added that although unexpected, the trading or structuring swap or ETF type products has been done for other iBoxx indices.

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