Solid bid for final BWICs fuels optimism for Q1 2014

A flurry of bid lists from legacy portfolios at the start of this week has kept the secondary market busier than it might normally be at this time of year, which bodes well for the start of 2014, said traders.

  • By Joseph McDevitt
  • 13 Dec 2013

The bids wanted in competition (BWICs) have totalled around €1bn this week, according one London-based ABS trader. The majority of assets on these lists are legacy structured credit positions, such as CLO and CDO bonds, most of which traded very well, the trader added.

The BWICs came ...

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