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.
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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