ABS spreads lag as ECB pulls QE trigger

By Tom Porter
17 Mar 2015

ABS traders are braced for another round of European ABS spread compression as the European Central Bank ramps up its sovereign bond purchases, but prices have been stubborn so far.

The secondary market was extremely busy last week, but aside from a slight bias towards higher yielding paper such as Portuguese RMBS and other periphery ABS bankers said there was no discernible trend in trading and spreads were largely unchanged.

Instead it was primary market execution drawing the ...

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