ABS

Equities, bonds, cash and gold all saw outflows in the week ended May 11, strategists led by Michael Hartnett wrote in a note, citing EPFR Global data.

Real-estate owned assets sold in 2021 achieved 109% of the most recent appraised value, on average, compared with the 97% that the sales achieved, in 2020.

Dealers are in solid financial health, school buses secure 20%-35% of notes, and Navistar Financial has never had a bus dealer bankruptcy in its history.

In most selloffs, investors can find a few safe havens. But in this year’s corporate bond rout, a backdrop of stagflation means there is absolutely nowhere to hide.

The deal has a 24-month revolving period, when eligible receivables will be sold to the trust subject to concentration limits and eligibility criteria.

Americans are reminded about high gasoline prices daily, every time they drive. Another energy cost comes to their attention monthly: utility bills.

investors are focused on one thing right now: capital preservation. Even commodities, a favorite inflation play, succumbed to the global selloff on Monday.

First Help Financial is a small, niche auto lender with less than $500 million in assets, adding variability to expected loss scenarios on the notes.

The yield jumped as much as three basis points to 3.11%, extending an advance that has seen the rate more than double this year.

Entergy Louisiana’s system restoration property encompasses a large service territory that spans 58 parishes, serving about 1.1 million electric customers.

Virtually the entire portfolio, or 92.2% of the collateral pool, was underwritten using personal and business bank statements, or profit and loss statements.

Global Jet Capital will use some of the proceeds to redeem notes from BJETS 2019-1. Accelerated principal payments are among credit enhancements for BJETS.

But in pouring cold water on the prospect for a jumbo-sized 75 basis point rate hike next month, he may have inadvertently set the stage for more turbulence going forward if inflationary pressures increase.

The Federal does not plan to reinvest maturing securities, so if maturing balances are lower than those being capped, then the runoff pace might be slower.

Multiple originators outside of Angel Oak contributed to the pool, but none represented more than 16% by percentage of the pool balance.

Jitters are everywhere after equities and bonds had their worst concerted monthly selloff since the global financial crisis while the dollar surged to a 20-year high.

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.