RBSGC expects that triple-A cards and autos will widen modestly as the war comes to a conclusion and until regulatory matters clear up. Expects HELs will fare better, in spite of OASs. RBSGC also believes that credit sectors and tier-two and three issuers will be in more demand. However, until the economy stops shedding jobs, recommends diligence in these sectors. Says extension risk is becoming a more prominent issue, and prefers credit-impaired collateral that demonstrates less negative convexity. RBSGC likes 5- and 7-yr student loans, and Australian Mortgages and urges investors to look at non-bank Australian lenders for diversification.
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Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
1h ago -
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24