“It is another potential diversionary route away from the distributed market. I would rather have more issuance, but on the other side, it’s good from a real economy point of view.”—Gareth Davies, head of asset-backed securities research at JPMorgan in London, on the extension of the Funding For Lending Scheme and the effect it may have on the market for residential mortgage-backed securities in the U.K.
“It is another potential diversionary route away from the distributed market. I would rather have more issuance, but on the other side, it’s good from a real economy point of view.”