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Equity equations
US CLO 1.0 versus 2.0 equity relative value explored
There are several considerations for CLO equity investors looking for relative value in CLO 1.0 and...
News Analysis 20 February 2013 -
ABS CDO auction due
Dock Street Capital Management has been retained to act as liquidation agent for Davis Square Fundin...
News Round-up 19 February 2013 -
Supply anticipated from CRE CDO unwinds
NorthStar Realty Finance Corp indicated in its 4Q12 earnings call yesterday that it may unwind some...
News Round-up 15 February 2013 -
CMBS creeping tighter again
The US CMBS secondary market continues to tighten as supply recovers from the low levels seen at the...
Market Reports 14 February 2013 -
Wake-up call
Change in transparency, buying behaviour needed
The recent indictment of former Jefferies trader Jesse Litvak for misrepresenting RMBS prices has se...
News Analysis 14 February 2013 -
MSBAM 2013-C8 prepay assumptions eyed
Several noteworthy price points were observed on the XA and five-year A2 tranches of the recently-pr...
News 13 February 2013 -
ABS trading exec recruited
KNG Securities has appointed Armando La Morgia to its fixed income team, as the firm builds its pres...
Job Swaps 13 February 2013 -
Healthy mix in quieter RMBS session
US RMBS is not the only market to have gone quiet in the wake of the heavy snow in the north-eastern...
Market Reports 12 February 2013 -
ABS CDO on the block
An auction will be conducted for RFC CDO II on 1 March. The collateral will only be sold if the proc...
News Round-up 11 February 2013 -
Punchy proposal
Mixed implications for pub paper
Punch Taverns last week announced proposed amendments to the capital structure of both its Punch A a...
News Analysis 11 February 2013 -
SCI Start the Week - 11 February
A look at the major activity in structured finance over the past seven days
Pipeline Many of the deals that entered the pipeline last week went on to price by the end of Frida...
News 11 February 2013 -
Euro ABS consolidation on the cards?
The European ABS market appears to be entering a period of consolidation, according to ABS analysts...
News Round-up 8 February 2013 -
Seniors scarce in US CLO secondary
US CLO secondary supply has been strong all week, but peaked in yesterday's session. SCI's PriceABS...
Market Reports 8 February 2013 -
Increased focus on 'drop dead' provisions
The expiration of temporary rate reductions is emerging as a key driver of re-defaults of large modi...
News 7 February 2013 -
Strong demand for Euro auto paper
A flurry of European ABS activity emerged yesterday, with auto paper helping to drive the secondary...
Market Reports 7 February 2013 -
Countrywide settlement 'too low'
New documents have been filed in New York State Supreme Court claiming that the proposed US$8.5bn fi...
Job Swaps 7 February 2013