Investors Shed Card-Bond Exposures
June 28, 2019In all, 4.7 billion of credit-card bonds traded on the secondary market from May 13 to June 21, according to Empirasign.
Asset-Backed Alert
CLO Bid Lists Inundate Secondary Market
June 14, 2019Investors offered $2.6 billion of CLO paper on the secondary market during the first eight business days of the month, spreading the supply across 79 bid lists encompassing 490 positions, according to Empirasign.
Asset-Backed Alert
CLO Trading Soars Amid Refinancing Pause
February 22, 2019According to Empirasign, the weekly average supply of formal bid lists in the sector totaled $802.7 million from Jan. 1 to Feb. 15 — versus $525.9 million for all of 2018.
Asset-Backed Alert
Global CLO Roundup: Seeking a foothold in the primary
January 07, 2019One $5 million 2015 vintage BB tranche on Thursday did exchange hands in the high 80s, while two small 2018 vintage BB tranches on Friday covered in the low 88 and 89 area, but most others have traded a few points higher or failed to trade all together, according to data from Empirasign Strategies.
LCD News
Global CLO Roundup: Mezz tranches widen as secondary bids evaporate
December 17, 2018One $2.5 million BB tranche on a 2015 vintage CLO covered with a 90 handle on a Wednesday BWIC after it had last traded in July with talk in the 98 area, according to data from Empirasign Strategies.
LCD News
Global CLO Roundup: More in US delay deals; Europe closes shop
December 10, 2018Lower in the capital stack, a number of 2013-2015 vintage BB tranches that exchanged hands were covered between 675-715 bps, according to data from Empirasign Strategies.
LCD News
UK student loan securitization steps forward despite MPs' scepticism
December 03, 2018Data from Empirasign shows that the rated notes appear on ABS BWICs relatively rarely, with only two appearances from the A1 notes in the last year.
Global Capital
Global CLO Roundup: CLO related BWIC activity increases in US
November 05, 2018More investors look to be selling their junior mezz tranches this week as one money manager has put out a $22.6 million BWIC of CLO BBs this afternoon on a number of 2014-2016 vintage CLOs, while one private equity investor has also put out an $87.6 million BWIC of CLO BBs that feature more recent 2017 and 2018 vintages, according to trading sources and data from Empirasign Strategies.
LCD News
Pollen Street sells Funding Circle ABS exposure
November 01, 2018Class 'X' and class 'Z' bonds in this deal appeared on a BWIC on September 26, according to Empirasign data, with a "did not trade" recorded on the class 'Z' and a cover at 512bp discount margin for the class 'X'.
Global Capital
Deutsche non-core mortgages out on RMBS BWIC
October 24, 2018The whole bottom of the rated capital structure in Rochester No. 2, a UK RMBS originally structured from Deutsche Bank's non-core book, was out for sale in a BWIC on Wednesday afternoon, according to data from Empirasign.
Global Capital
Strong euro securitization pipeline seen for September
August 15, 2018BWIC activity in the market is limited, according to data provider Empirasign, with just one UK list in small size on Wednesday.
Global Capital
Midweek Holiday Halts Secondary Trades
July 06, 2018According to Empirasign, asset-backed bond trades totaled $117.8 million on July 2-3, down 83% from the week-earlier timeframe. Collateralized loan obligation trades totaled $32 million, down 79%. Mortgage-bond trades totaled $3.9 million, down 97.6%.
Asset-Backed Alert
Wall Street Jitters Cause Rare Snarl-Up in Loan Market
March 23, 2018About 65 percent of CLO bonds didn't trade Friday, while 71 percent didn't change hands on Wednesday, according to Adam Murphy, president at capital markets trading data firm, Empirasign Strategies LLC. Investors eschewed a market that's been saturated with new deals this quarter and as price swings in equity markets permeated trading for the debt, he said.
Bloomberg News
Activity picks up in CLO secondary following SFIG Vegas conference
March 13, 2018The first of the large BWICs came Thursday right after the conference. It totaled $263 million and included 33 different junior investment-grade and mezzanine bonds, of which 28 traded, according to data from Empirasign.
LCD News
Benchmark CMBS concept generates buzz at CREFC
January 10, 2018The current face dollar volume of CMBS BWICs offered in 2017 declined to USD 98bn from USD 104.7bn in 2016, according to Empirasign.
Debtwire
Profit-Taking Efforts Fuel Secondary Sales
November 17, 2017According to Empirasign, the two sectors saw bonds with a combined face value of $3.7 billion go out for bid via 161 offerings last week. That was followed by $3.5 billion of securities in 147 bid lists over the first three days of this week.
Asset-Backed Alert
Empirasign Bows 'Quote Builder' Bloomberg Email Tool
October 02, 2017Fixed income data provider Empirasign Strategies has launched a Quote Builder tool that allows traders to automatically populate client emails over Bloomberg with bond data and market color.
Inside Market Data
Investors Dump Property Bonds Linked to Hurricane Harvey
September 08, 2017The notes saw talk from four dealers on Wednesday that averaged 240bp over Swaps. That compared to just 205bp on average from an August 18 list, according to Empirasign.
Reuters
CMBS with Harvey exposure trade, investors await collateral details
August 31, 2017A USD 1.1m JPMBB 2015-C28 A1 and a USD 1.4m JPMBB 2015-C28 A2 covered yesterday at S+ 17bps and S+ 31bps, respectively, according to Empirasign.
Debtwire
Large RMBS List Up for Sale Thursday
August 23, 2017The biggest bond is a US$165.1m senior block of a 2007 subprime mortgage deal from Option One Mortgage, one of the largest lenders before the subprime mortgage crisis. Most of the other bonds are being talked around 90 cents and higher, according to Empirasign.