Banks readjust after rare correction in asset-backed market Structured credit markets approach the June half-way mark with the spread cycle reversed. All but the most recent new issues are trading below par and the heady times of heavily oversubscribed deals are over for now.
Like other credit sectors, the asset backed securities (ABS) market has suffered unexpected volatility and spread widening. Investors, issuers and dealers are still coming to terms with a sea-change in the dynamics of the market.
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