Northern Rock and RBS see RMBS snapped up
UK prime RMBS from Northern Rock and Royal Bank of Scotland achieved impressive momentum this week, with a total of around £2.8bn placed in the market on Wednesday amid healthy oversubscription.
But spreads are moving sideways rather than tightening Northern Rock paid a sizeable premium and RBS moved to the wide end of guidance.
"The trades in the market at the moment are attractively priced in the context of where the market is," said a syndicate banker at
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