Issuers and investors sit on hands as QE decision looms
The secondary market for European ABS picked up towards the tail end of last week but the primary market remained devoid of activity on Monday, as bankers digested another day of European Central Bank policy prediction and a reported plan by the Italian government to guarantee mezzanine ABS.
Even by the unremarkable standards European ABS supply has set in the years since the financial crisis, 2015’s first full trading week will go down as “drudgingly slow”, JP Morgan analysts wrote on Monday.With no new deals as yet mandated in 2015, Permanent TSB’s Auburn Securities 8 ...
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