Risk on to continue, but expect some asset classes to shrink in 2018 — Kroll

Brian Ford, head of structured finance research at Kroll Bond Rating Agency, told GlobalCapital this week that the strong risk on investor sentiment seen this year will carry into 2018, but added that autos and non-agency MBS volumes could decline from 2017 levels.

  • By Sasha Padbidri
  • 20 Dec 2017

The “risk-on” environment, buoyed by low interest rates, will continue into 2018, with “some room” for spread tightening down the capital stack, Ford said.

According to Kroll data, spreads across structured product issuance in 2017 fell to “multi-year tights”, with short duration triple-A paper from prime autos and ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 71,276.88 203 11.43%
2 Bank of America Merrill Lynch 61,036.24 167 9.79%
3 Wells Fargo Securities 49,686.14 144 7.97%
4 JPMorgan 48,878.75 140 7.84%
5 Credit Suisse 38,577.47 96 6.19%