Original article by David Bell
Concerns about the macro environment and summer season may have led investors to be cautious about new ABS issuance deals, according to International Finance Review.
That said, according to Senior Portfolio Manager Jake Remley of Income Research + Management, a decline in Treasury rates means that pricing levels remain tight on an absolute basis.
“There might have been a 5bp concession for the calendar, given not as many investors are in their seats in July. Overall we are not seeing any tremendous dislocation in spreads compared with April,” he said.