ABS

A strong capital structure boosts confidence in the timely payments of the notes, including provisions to mitigate negative carry.

Contracts on U.S. benchmarks were little changed and European shares struggled to hold onto earlier gains as investors shifted their attention to the monetary policy outlook.

Together, the deals OBX programs will issue about $850.5 million in prime jumbo and non-prime RMBS paper, and are expected to close on May 10.

Japanese institutional managers -- known for their legendary U.S. debt buying sprees in recent decades -- are now fueling the great bond selloff just as the Federal Reserve pares its $9 trillion balance sheet.

The trust plans to originate about $25 million in new loans during the loan acquisition and recycling periods, both of which will end on June 15, 2023.

North American portfolio managers were almost split on where 5-Y spreads would move, while no professional managers in European saw defaults decreasing.

It’s not yet time to position for a recession and investors should instead focus on adjusting asset allocation to surging inflation, according to UBS Global Wealth.

Almost the entire deal will issue notes through a senior-subordinate capital structure repaying principal sequentially, instead of on a modified sequence.

Carvana raised $3.275 billion through the sale, which priced Wednesday afternoon at par to yield 10.25% and will finance its acquisition of Adesa Inc.’s U.S. car-auction business.

With ADFITECH as a held company now, Mortgage Connect says it is well equipped to be a linear provider of credit, compliance and servicing review services.