Joy Wiltermuth is a reporter at IFR, where she writes about the securitisation market. In the past five years, she has written about new types of mortgage bond deals hatched since the financial crisis, litigation and regulation. She was previously a reporter for Debtwire in New York and also worked for Institutional Investor.
A battle for control over Harley Marine Services has sent spreads dramatically wider on the tug and barge company’s only asset-backed bond deal, but ratings agency KBRA said on Thursday there is no evidence of increased credit risk.
Investors were undaunted by the US$15bn deluge of new asset-backed bond supply on tap for this week, which is expected to mark a record summer week for issuance.
Concerns about the escalating US trade war are already creeping into documents relating to the sale of bonds backed by auto loans.