Securitization spreads in Europe have held up and continue to trade at relatively tight levels, said Unicredit analysts.

“Price recovery continues as a result of the credit spread rally, which took a breather this week compared to the pace of ABS spread tightening earlier,” said analysts. “Overall, risk appetite remains high and yield-hungry investors increasingly move down the capital structure or focus on asset classes exposed to relatively higher credit risk, such as U.K. non-conforming assets and CMBS.”

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