There are few major dislocations in ABS at present. Down-in-credit trades on top-tier issuers are still a way to pick up additional yield and preserve liquidity, but good cross-sector bets remain hard to find. That said, two-year fixed rate autos are now very tight to two-year fixed rate cards. They are currently only 1 bp behind cards, so selling fixed autos and buying cards with this average life appears attractive. Also, the firm reiterates that 5-year and 7-year average life SLABS are cheap on a generic basis to credit card ABS.
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Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
5h ago -
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23 -
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
April 23 -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22