This week's episode of Another Fine Mezz has a certain "morning after the night before" feel, with Tom Lemmon and Victoria Thiele feeling a bit fragile after the midweek fun of GlobalCapital's 2024 European Securitization Awards. Fortunately, George Smith has youth on his side, and he lent a steadier hand as the trio reflected on the bustling (and boozy!) night.
A highly successful and somewhat raucous evening was not enough to distract market participants, with the ABS market witnessing a pick-up in ABS activity — particularly in euros. Meanwhile, an intrigued sterling market looked on as Nationwide initiated its first ‘drop’ of Silverstone Master Issuer stock.
Alas, the outlook is not as rosy in CLOs, where some feel spreads could be plateauing after a strong few weeks, and yet more arguments about loan docs bubble away in the background as power shifts away from CLO managers.
Finally, George gives a masterclass in the art of self-defence.
