The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
At 10 billion, European CMBS maturities will slow down in 2014 compared to the 16 billion maturing in 2013; but loans will compete for refinancing opportunities with the backlog of existing specially serviced loans, according to Standard & Poor's.
Goldman Sachs International Bank and Societe General priced Italys first post-crisis CMBS backed by a loan secured on Italian retail properties, according to market reports.
A consensus of expectations among CMBS investors polled by J.P. Morgan is for new issuance to reach $90 billion in 2014.
As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
The commercial mortgage-backed securities markets near miraculous turn around and the bonds plunging spreads, as well as indications of deteriorating credit quality, suggest buyers should beware.
By tweaking one aspect of its methodology for rating securitizations, Moodys Investors Service has set the stage for more downgrades of deals issued out of peripheral Eurozone countries.