ABS

A pool of equipment lease contracts to industrial and commercial clients, will underpin the notes to be issued from the trust, VFI ABS 2022-1 deal.

Backed by high quality loans to professionals, Navient Private Education, 2022-A, will issue the notes through a relatively short-term, sequential structure.

Investors are making a major miscalculation by betting the Federal Reserve’s coming cycle of interest-rate hikes will end with its key rate not too far from where it is now.

About 3.3% of loans in the deal fall into the 600-649 FICO bucket on the current Sunnova Helios VIII, 2022-A, compared with a 1.2% level in the 2021-C deal.

The moves underscore how fast investors have been repositioning for Federal Reserve’s rate hikes. Strategists now predict two-year yields at 1.9% for the end of 2022.

New vehicles account for about 21.5% of the SDART 2022-1 pool, down from 23.0% of the 2021-4 deal, amid the supply crunch for components to build new cars.

The sponsor, owned by Blackstone Real Estate Debt Strategies and a majority-owned affiliate of BREDS IV Residential Holdco, will retain a residual interest.

With minimal coupon protection, exceedingly long duration and super-tight credit spreads, the powder keg was fully loaded. Now we have sizzling inflation and hawkish central bankers providing us with the spark.

There are few safe investments today, and as inflation shows the biggest increase in 40 years, one opportunistic investor blasts CLOs’ risk versus returns.

Government bonds worldwide are extending declines after the worst six months in five years, a Bloomberg index showed. Meanwhile, the pool of negative-yielding debt shrank to a six-year low.

Hi-Fi Music 2022-1 has several credit enhancement features, including an interest reserve account that is initially funded and sized to cover 12 months of interest.

Investors are scrambling to position for more hawkish policies from the Federal Reserve to the Bank of England and the European Central Bank as officials seek to tame runaway inflation.

Craske will advise banks, originators and other financial institutions on a range of ABS, including auto loans and leases, trade receivables and insurance premium loans.

U.S. employers extended a hiring spree last month despite a record spike in Covid-19 infections and related business closures, with surging wages adding further pressure on the Federal Reserve to raise interest rates.

Marlette Funding will pay bondholders sequentially. Also, the transaction is structured to de-lever, so the level of credit enhancement will increase over time.

The world’s well of debt with yields below zero has shrunk to the lowest in more than three years as the prospect of imminent interest-rate hikes drives a selloff in bonds.

The collateral pool is comprised of receivables assets based in Japan, and several classes of the transaction will issue dollar-denominated notes.

When distressed-debt investor Mudrick Capital Management bet on an aviation startup in December, it was a sign that opportunities have dried up in one of the most lucrative corners in finance.

If the minimum CE test or the delinquency test is not satisfied, then 100% of the scheduled and unscheduled principal will be allocated to the senior tranche.

The U.S. Treasury boosted its estimate of federal borrowing needs for the three months through March after entering the quarter with a cash pile that was run down by congressional delays in lifting the government’s debt limit.