European supply for September has already reached the 5 billion (US$5.6 billion) mark, with a number of robust deals continuing to emerge in the pipeline. The market is sailing toward volume projections predicted for 2003. But even with the 17 billion (US$19 billion) expected to come to market by October, sources indicate that demand still outweighs supply.
A significant RMBS calendar continues to build, though deals are maintaining levels tighter than expected. Last week new deals began marketing from the U.K, Spain and the Netherlands.