Asset-Backed Securities

Douglas Charleston believes European ABS has once again provided a rare bright spot for fixed income. He explains how, from Q1 to Q2, focuses have shifted, and delves into different macro-economic variables affecting the ABS market.

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.

Partner and Portfolio Manager, Aza Teeuwen, discusses the impact of Q1 events on the European ABS market and how he expects the markets to respond moving forward.

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.

TwentyFour Partner and Portfolio Manager, Douglas Charleston, describes the developments of the ABS market in Q4 2022.

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.