Favorable technicals should support ABS spreads, especially in autos, which has seen negative net issuance in 2003. Best places to find value in ABS are in sectors lagging tightening in corporates or swaps. Go down in credit to subordinates and extend in duration in fixed rates, where supply’s especially light. Cautious on US consumer, however, and economic data does little to change firm’s view so it only assigns a "modest overweight." in sectors they like. Given this, although markets have a more positive psychology this year, is mindful of the typical year-end widening tendency of ABS, quickly eradicating, any near-term spread tightening.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
9h ago -
With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
April 19 -
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17