Secondary Consumer ABS Trades Poorly Amid Global Turmoil

The situation in Japan and the Middle East should have lead to a greater “flight-to-quality,” with investors moving their investments into the safe havens of the consumer credit market, according to traders.

  • 17 Mar 2011

-- Daniel O’Leary

The situation in Japan and the Middle East should have lead to a greater “flight-to-quality,” with investors moving their investments into the safe havens of the consumer credit market, according to traders. But spreads on consumers have actually widened against expectations, with average spreads on senior ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%