European aid bolsters ABS market but comes too late for Driver
The European ABS markets reacted positively to the EU’s announcement on emergency sovereign aid, with spreads tightening across the board, albeit on extremely thin volumes.
Everything is tighter, said one head of ABS trading. ABS was frozen at the end of last week. Now all names are 20bp to 40bp tighter. Granite has gone from 90 [cents] to 93. Things are back to where they were a week ago.
After weeks of resilience in
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