Legacy non-agency RMBS widens on big sales

Legacy non-agency RMBS spreads widened last week as some investors took advantage of new liquidity to sell legacy paper.

  • By Ryan Bolger
  • 20 Jul 2015

A series of large BWICs were sold entirely, including one totalling around $635m, according to data from Empirasign. A $1.22bn list of interest-only legacy non-agency paper was also sold in full, by a syndicate of 17 dealers.

“I think some large money managers and some hedge funds took ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,778 8 23.33
2 Citi 5,854 5 20.15
3 Goldman Sachs 4,763 3 16.39
4 Societe Generale 1,506 3 5.18
5 Rabobank 1,413 2 4.86

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  • Last updated
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1 Bank of America Merrill Lynch 27,433.88 76 12.99%
2 Citi 23,614.35 69 11.18%
3 Wells Fargo Securities 21,630.20 63 10.24%
4 JPMorgan 16,107.68 46 7.63%
5 Credit Suisse 12,216.35 32 5.78%