BBVA's record Eu5bn deal trips up Spanish MBS bull run

09 Mar 2007

Banco Bilbao Vizcaya Argentaria announced Spain's largest ever securitisation this week, just two weeks after launching its first RMBS.

The move abruptly ended the bull run that has seen Spanish RMBS spreads tighten by 2-3bp since the start of the year. The initial market response was dramatic by the ...

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