Asset-Backed Securities

There has been a noticeable pick up in the European ABS new issuance market this year, with demand far outstripping supply. John Lawler looks at what makes a UK RMBS deal ‘Prime’, and why not all deals are the same.

Given the current macro environment, Pauline Quirin believes loans with near term maturities provide a useful insight into where risk lie.

With commercial real estate continuing to suffer the effects of the COVID pandemic and inflation, Elena Rinaldi looks at one CMBS transaction highlighting the challenges facing the asset class.

With Norinchukin Bank reportedly looking again at CLOs, Aza Teeuwen looks at the potential impact the return of the one of the market’s biggest buyers might have on spreads.

Strong performance across markets in January has left some investors feeling they’ve missed out on the rally in bonds. No need to worry, says Felipe Villarroel.

While yields have soared in recent months and created a broad buying opportunity in fixed income, Aza Teeuwen says investors should look at floating rate bonds to benefit from higher coupons today.

European ABS is enjoying a spurt of new issuance and a parallel rally in spreads, with investors having entered the new year with cash to invest and buoyed by renewed hope around inflation and monetary policy, says Pauline Quirin.

In the second instalment of a two-part blog on the UK housing market, Shilpa Pathak stress tests UK RMBS to determine how high mortgage defaults would have to get before bondholders are impacted.

Higher rates mean the income available on AAA RMBS bonds is eight times what it was at the start of this year, and growing demand for this floating rate asset class is clear, says Kevin Law.

In our annual ‘Rodney Blog’, Eoin Walsh says that with rates now offering both yield and downside mitigation, and credit yields at near-decade highs, fixed income investors could enjoy strong returns in 2023

In the first of a two-part series on the UK housing market, Shilpa Pathak looks at the experience of previous recessions and argues fundamentals today look far stronger than they did either in 2007 or the early 1990s

With private equity firms active buyers of CLOs and CMBS in recent weeks, Aza Teeuwen explains why these investors are shunning physical assets in favour of asset-backed bonds.