Italian ABS edges away from ECB
The demand for peripheral bonds in the secondary market has continued to grow, enabling Banco Popolare de Vicenza to sell the senior tranche from its Berica 10 RMBS, which had been retained for repo, into the market at par.
The same bank placed bonds from its Berica 8 RMBS, which included a repo arrangement with JP Morgan, with a major ABS investor at the end of last year. According to traders, the investor was being paid 230bp over for the bonds.
Since then, spreads for Italian RMBS
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