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MarketAxess, an electronic trading provider of U.S. and European asset-backed securities, is adding consumer ABS to its e-trading platform.
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Deutsche Annington Immobilien, the borrower in the €5.5 billion ($7.8 billion) German Residential Asset Note Distributor commercial mortgage-backed securitization, is sounding out noteholders about a potential restructuring, according to market professionals in London.
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Defaults on large loans in Japanese commercial mortgage-backed securities continue to rise, accounting for 59% of the total outstanding loans at the end of April, according to Moody’s Investors Service.
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American International Group has purchased about 50% of the legacy bonds sold by the Federal Reserve Bank of New York from Maiden Lane II since February.
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Credit Suisse has scooped up Roger Lehman, the head of commercial mortgage-backed securities research away from Bank of America, as part of its move to reboot its CMBS group (TS, 4/21).
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Broker-dealer MF Global Holdings has added three new sales recruits to its securities team in the advent of a four-fold expansion as it builds up its mortgage- and asset-backed securities team.
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Defeasance among loans in U.S. commercial mortgage-backed securities surged in 2010 to 2.8 billion, up from $1.3 billion the preceding year, according to Moody’s Investors Service.
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Paper from the carved out banks holding distressed assets has fuelled trading in Europe’s secondary asset-backed securities sector, with bids-wanted-in- competition climbing to €392 million ($560 million) last week, the largest volume this year, according to traders and Citigroup data.
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Primary market activity in European structured finance is whirring back to action, with a handful of deals expected to price in the next few weeks.