There are no signs of a slowdown in Europe, and this is proving to be another RMBS heavy week. Names out of the real estate sector are emerging from Portugal. These include a second deal from Banco Espirito Santo, in this round bringing 1 billion (US$1.17 billion). The deal, called Luistano Mortgages No.2, is making the rounds with 900 million (US$1.05 billion) in triple-A notes carrying 5.5 average life.
Alongside Luistano the 930 million (US$1.08 billion) Banco Commercial Magellan Mortgages No.2. And investors still hungry for paper from Portugal's Iberian neighbour can take a piece of the 1.2 billion (US$1.4 billion) FonCaixa Hipotecario deal for La Caixa.