Euro CLOs a top pick for 2022
Markets have clearly experienced some periods of volatility this year, and while European CLOs haven’t been immune to this, both fundamentals and prices have been remarkably stable.
Insights Topic
Asset Backed Securities
Where is the yield in floating rate bonds?
With floating rate assets likely to be high on investors’ shopping lists for 2022, Doug Charleston looks at the floating rate options across fixed income and highlights the highest yielding opportunities.
The Rodney Blog 2022: Policy, economy and markets must converge
What we are currently experiencing is a disconnect between monetary policy, the economy and the markets, a disconnect that in our view will struggle to survive much longer.
Santander leading the way in consumer ABS
Marko Feiertag take a closer look at Santander’s latest consumer ABS transaction, which attracted strong demand despite being increased to a bumper €1.5bn in size.
Is There Value in Student Housing CMBS?
With a student housing CMBS deal recently brought to market, Kevin Law evaluates the sector’s outlook in the aftermath of COVID-19
Asset-Backed Securities Quarterly Update – October 2021
TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q3 2021 and provides his outlook for the rest of the year.
European ABS and CLOs Resilient Amid Volatility
After a mixed start to Q4 for risk assets, Elena Rinaldi examines how European ABS and CLO assets have fared so far in Q4 and the factors currently affecting both markets.
BoE Rate Hikes Would Be Music to ABS Ears
Let’s not forget that the BoE dropped rates from 0.75% right down to 0.1% at the start of the COVID-19 pandemic back in March 2020, having only managed to put through two hikes in 2017 and 2018. It has changed course sharply before.
European Bank Treasurers Dust Off Their Pre-QE Funding Plans
While bank treasurers may have to work a bit harder this year-end to formulate wholesale funding plans, the ABS market that they may be more reliant on going forward is experiencing a strong resurgence, which should ease the process of weaning off central bank funding.
How do ABS and CLO Investors Trade Bonds?
BWIC – or bids wanted in competition – lists, are a unique characteristic of the ABS and CLO markets, where they are widely used in secondary trading when investors are looking to sell bonds.
German Multifamily CMBS – HAUS or BRIDGE?
Last week, Morgan Stanley successfully brought the first public German Multifamily CMBS deal (HAUS - Eloc 39) to market since 2013. Despite coming to the market in the middle of the summer, the deal has attracted strong demand across the capital stack.
The End of the Road for Petrolheads
We can model all kinds of credit risk as long as there is enough protection in the structure for investors to get comfortable with a degree of residual value risk.