Things are certainly tough when a typical vanilla credit card offering from a company as conservative as American Express has to widen its spreads to sell its asset-backed bonds.

But that's exactly what happened last week when Amex, as well as a host of other issuers from several different sectors saw their spreads pushed wider by tremulous market conditions and record high swap spreads.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.