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Sunday, 25 August 2019

MBS

Aussie RMBS buyers stay cautious

IFR 2297 24 August to 30 August 2019

Bank of Queensland returned to the RMBS market last Thursday with an enlarged A$1bn (US$680m) securitisation that struggled to gain price traction for the senior notes, despite the scarcity value as just the fourth sale from a regional or mutual bank this year.

Venn signs warehouse for Dutch resi

IFR 2297 24 August to 30 August 2019

Investment manager Venn Partners announced last week a €550m warehouse for Dutch residential mortgages originated by its Venn Hypotheken platform.

Rates push CMBS spreads wider

IFR 2297 24 August to 30 August 2019

New issue senior conduit CMBS spreads have widened as investors looked for compensation against a strong rally in Treasury yields and an uncertain macroeconomic backdrop.

Drop in credit card ABS could dampen market liquidity

IFR 2297 24 August to 30 August 2019

Large bank issuers have retreated from the US credit card ABS market this year.

Kroll cuts TGI Friday's ABS

IFR 2297 24 August to 30 August 2019

TGI Friday’s debut whole business securitisation has been downgraded one notch by Kroll Bond Rating Agency after a deterioration in the casual dining company’s performance since the deal was issued in March 2017.

Macquarie readies funding-only RMBS

IFR 2297 24 August to 30 August 2019

Macquarie Securitisation has mandated Macquarie Bank, ANZ, CBA, NAB and Westpac to market a potential funding-only Australian dollar PUMA RMBS issue.