RMBS was once again the order of the week as the European pipeline continued to build with new deals coming from U.K. and continental issuers alike. There were no signs of market activity abating as issuers rushed to get their deals done before Information Management Network's mid-June Barcelona conference.

Last week, the market showed further indications of demand-led tightening with high subscription multiples and pricing at tight levels. Market sources reported spreads coming in for prime U.K. RMBS on the back of primary issuance, with a less vigorous tightening bias seen in other jurisdictions and asset classes.

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