BARCELONA - For every good party, there are swarms of uninvited just waiting to crash it. And as one participant at Information Management Network's ninth annual Global ABS Conference' held here said last week, "the party has been crashed."

By day attendees complained about headaches and tight spreads and tapped-out liquidity, suggesting that as issuance in the asset-backed securities market has outpaced the size of the corporate bond market for the first time, the ABS market is not - and may not be again - what it once was.

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.