ABS primary market sees highest weekly volume since February

price_chart_market_575px_adobe_30Jun20
By Jennifer Kang
20 Jul 2020

A dozen deals totaling $10.2bn were issued last week, the highest weekly volume since February. Investors easily absorbed the new supply, and spreads tightened particularly in non-benchmark sectors in a sign that the market has mostly recovered over the summer, sources said.

Consumer ABS fundamentals have been improving with each month since the outbreak. At the center of the market is the auto sector, which has made a strong comeback in sales and used car prices, driving ABS spreads back to pre-Covid levels.

“The Manheim Used Car Index is ...

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