By Al Yoon
Debtwire’s latest report on RMBS examined the US “fix-and-flip” sector. As Caroline Chen, Senior Vice President at Income Research, noted, the firm has been looking at the value of these deals as it evaluates opportunities for yield across the credit sector. However, given that bonds have fallen in price across the board, Caroline thinks there is better value to be found in the non-QM sector, which have a longer history and credit rating approvals.
On Thursday, BondBloxx partnered with Income Research + Management (IR+M) to launch the BondBloxx IR+M Tax-Aware Short Duration ETF (NYSE Arca: TAXX).
Veteran BlackRock portfolio manager Joseph Wolfe has come off of the $1.9bn BlackRock Large Cap Focus Value fund (MABAX) and the $7.8m BlackRock Global Impact fund (BGIMX), according to filings with the Securities and Exchange Commission (SEC).
Recent pricing on wholesale ABS deals for chains Wendy’s and Massage Envy illustrate differences on deals in this area of the market, reports Eikon.
