ABS market's uphill battle just got steeper with Brexit

Peripheral ABS spreads blew out in Europe on Friday morning on the back of concerns that the UK's vote to leave the European Union could lead to further political disintegration across the continent. But beyond short term volatility, the result could exacerbate the problems facing the already struggling asset class.

  • By David Bell
  • 24 Jun 2016

In an illiquid market investors and traders struggled to find a stable pricing level across the secondary ABS market on Friday morning.

As sterling, equities and bank debt tanked, the ABS secondary market was slow to spur into life, with no real trading taking place, affirming the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 128,786.28 373 11.27%
2 Bank of America Merrill Lynch 100,918.70 292 8.83%
3 JPMorgan 100,646.92 291 8.81%
4 Wells Fargo Securities 91,306.23 262 7.99%
5 Credit Suisse 75,502.58 201 6.61%