Global ABS: A cloudy outlook from sunny Barcelona
After two COVID-hit years last week the European ABS market decamped once again to Barcelona for the 26th annual AFME & IMN Global ABS conference.
Insights Topic
Asset Backed Securities
ABS spreads are pricing in a lot of downside
In fast-moving markets there is no perfect time to provide an update on valuations.
The early bird catches the MPR worm
Inflation rates have been rising for over a year now. While the increasing levels may eventually moderate, inflation is still likely to be with us for some time, especially with the Russian invasion of Ukraine exacerbating post-Covid supply constraints.
Value has returned to AAA CLOs
We can debate whether the European Central Bank is behind the curve or not, but Christine Lagarde says rates will be in non-negative territory by September.
CLOs have the fundamentals to absorb recession
As inflation continues to outstay its welcome in the global economy, we have previously discussed the impact of rising input costs on corporates and how crucial pricing power can be in such a challenging environment.
Growing CRE ABS offers diversification and yield
CRE ABS offers conservatively structured debt features, with generally short duration exposure and a spread premium rewarding the more intensive underwriting and due diligence required.
Asset-Backed Securities Quarterly Update – April 2022
TwentyFour Portfolio Manager, Elena Rinaldi, explains how European ABS markets behaved in Q1 2022 and provides her outlook for the year ahead.
UK sub-prime lending raises ESG concerns
Last week Oodle Financial Services successfully priced its fifth UK Auto ABS transaction, Dowson 2022-1.
Is there value in floating rate bonds?
Last week both the Fed and the BoE hiked rates by 0.25%, and judging by the Fed's dot plots and comments from the Bank of England (BoE), more hikes will likely follow in the coming months.
Why central bank policy errors should be top of your 2022 worry list
With inflation soaring and the economic recovery looking more fragile, we look at three famous central bank policy errors to demonstrate why they can be so dangerous for investors, and consider how a fixed income portfolio can be strengthened against the risk.
The CLO factory pauses for breath
The first month of 2022 has passed, and it’s been quite a roller coaster for broader equity and credit markets, with volatility climbing to its highest level since January 2021.
UK RMBS floating above the fray
After a relatively quiet period during the closing weeks last year, the primary ABS market has enjoyed a solid start to 2022.