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Thursday, 16 August 2018

MBS

US dollar bills

US household debt climbs to US$13.29trn: NY Fed

14 August 2018

Total US household debt jumped to a record US$13.29trn in the second quarter, marking the 16th quarter in a row with an increase, the Federal Reserve Bank of New York said on Tuesday.

A building at 666 Fifth Avenue, owned by Kushner Companies

666 Fifth Ave debt paid, except for a note with no hope

13 August 2018

The long saga surrounding the future of 666 Fifth Avenue in New York City has drawn to a close, but not without more than a hundred million dollars in bonds used to finance the trophy building taking a loss.

NBC logos are seen on a door with buildings around Rockefeller Center reflected in the background at the home of NBC's studios, in New York

Top NYC pre-crisis CMBS loans

13 August 2018

The bulk of money borrowed to finance the purchase of 666 Fifth Avenue in New York City has finally been repaid following a tumultuous decade that included a near default and major debt restructuring.

Kiwi structured market deepens

Kiwi structured market deepens

IFR 2246 11 August to 17 August 2018

New Zealand’s structured finance market is showing signs of growth ahead of a potential rule change designed to make local securitisations more attractive to the country’s major banks.

Resimac prices Aussie tranches

IFR 2246 11 August to 17 August 2018

The Australian tranches of the upsized A$1bn-equivalent dual-currency Resimac Bastille Trust Series 2018‐1 non-conforming RMBS priced last Friday with the US dollar Class A1 notes set to price on August 13.

Warehousing and industrial units are seen for sale and to let in south east London

Cracks appear in CMBS as risky B pieces get downgraded

10 August 2018

Downgrades to the B-piece portion of post-crisis commercial property bonds are on the rise this year, driving up the risks of losses to the very investors who took up these bonds for a yield pick-up.