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 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 801.51 2 13.30%
2 Citi 783.55 4 13.01%
3 Wells Fargo Securities 606.78 3 10.07%
4 Credit Suisse 534.82 2 8.88%
5 SG Corporate & Investment Banking 497.64 2 8.26%