Consumer ABS less plain vanilla as credit cycle ages

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By Jennifer Kang
25 Feb 2020

Traditional consumer ABS asset classes, particularly auto ABS, are looking less like on-the-run, flow assets than they once did, panellists said at SFVegas 2020 on Monday. As the credit cycle stretches on, speakers cautioned the audience to keep an eye on the growing risks in deep subprime consumers and the rise of revolving auto ABS structures.

More than 10 years into the credit cycle, the general consensus is that consumer fundamentals still look relatively strong — judging from metrics such as job creation, wage growth and GDP growth.

To support that argument, the overall theme at SFVegas this year seems less focused on calculating ...

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