A significant number of fund managers in Europe are starting to buy asset-backed securities, and researchers at BNP Paribas predict the increasing demand will keep spreads tight.

To help quantify the impact of new investors, BNP Paribas included questions about ABS and CDO investments in its most recent quarterly fixed-income survey. "We now have our first concrete insights into this piece of the demand-side puzzle," BNP researchers wrote in the report.

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