Within triple-As, Merrill is cautious of the premium dollar price sector, especially the super premiums, and favors the lower dollar-priced securities. While triple-As may meet some marginal widening, the stretch for yield is still very much in play and is keeping the more credit sensitive, higher yielding securities well bid. Triple-Bs and IOs are in great demand and spreads for these bonds have ratcheted in. Pricing of last few new issues is indicative of demand. Analysts have not seen the below IG sector follow suit. While double-Bs are in slightly, they have lagged tightening in triple-Bs and IOs.
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Warnings, finger pointing, and political infighting have consumed talks around a continuing resolution, but the details of the upcoming funding package are expected to be ironed out over the weekend for a likely vote early next week.
7h ago -
Subordination is unchanged on the classes A and B notes, and increased to 1.20% on the 2024-5 series notes, from 1.10% on the 2024-4 series.
7h ago -
In the collaboration, BNP Paribas, the European Union's leading global bank will commit the $5 billion in financing to support investment-grade, asset-backed credit that ATLAS and Apollo will source from their issuer clients.
11h ago -
The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris' goal of building three million new units in her first term.
September 19 -
A trigger occurs if the reserve fund is less than 50% of the reserve fund target amount, or if the payment date where the outstanding HEA valuation is less than 80% of the starting home valuation.
September 19 -
The fund aims to bring greater granularity and spreads of consumer assets to institutional investors that typically have a greater exposure to corporate credit assets.
September 18