ABS stalwarts go big and tight as ECB effect drives up the bid

By Tom Porter
25 Sep 2014

Two of the most regular issuers in the European securitization market proved the European Central Bank’s ABS purchases were no simple compression trade this week, printing large trades that reset the tight end of the market.

The most prominent prediction in the days since the ECB announced it would be purchasing a range of ABS alongside covered bonds has been that compression between the spreads of the best core European names and their periphery peers would intensify.

That has certainly proved to be the ...

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