Busy secondary market holds back CLO primary issuance

February 11, 2016

According to data from Empirasign, which tracks secondary market ABS trading activity, the first two weeks of February have seen over $760m worth of CLO paper hit the market.

Global Capital

Wobbly CLO Prices Attract Bidders

January 22, 2016

All told, CLO notes with a face value of $444 million changed hands from Jan. 12 to Jan. 20. That's out of a total offering volume of $611 million, according to Empirasign.

Asset-Backed Alert

Empirasign Opens London Office to Grow EU Bond Market Penetration

December 04, 2015

New York-based Empirasign Strategies, a provider of fixed income dealer offerings and trade color, has opened an office in London, and expects to have four staff based in the city by early next year to serve its growing client base...The vendor has also adapted its alerts function to take into account the differences between the US and UK bond markets.

Inside Market Data

FFELP ABS widens on ratings jitters

November 24, 2015

According to data from Empirasign, six different SLABS bonds trading in November reflected an average price drop of $0.088 after Fitch's announcement, giving the impression of a muted but negative reaction.

Global Capital

Short-Term CLO Buyers Resigned to Losses

October 23, 2015

On Oct. 20, for example, a mere 10.7% of the CLO paper offered on the secondary market failed to trade. That's down from 19.5% on Oct. 15, 33.3% on Oct. 14 and 28.6% on Oct. 13, according to Empirasign.

Asset-Backed Alert

More CLO Credit Trades as Investors Become Opportunistic

October 19, 2015

One BWIC on Thursday morning featuring 2.0 BBB and BB CLO tranches saw eight out of the nine items trading, according to data from Empirasign Strategies. Those mezz tranches have been trading about five to 10 points below their previous prints.

LCD News

Hooters Pays Up to Attract ABS Investors

October 07, 2015

One dealer was offering a slice of the original Hooters A2 bond on Wednesday at a spread of Swaps plus 375bp - a full 30bp beyond its offer of 345bp on a similar parcel at the end of September, according to market data provider Empirasign.

IFR Markets


September 23, 2015

A senior slice of the issuer's VALET deal from 2014 was offered at about 60bp over swaps versus 40bp earlier this month, market data provider Empirasign's data showed.

IFR Markets


September 15, 2015

"If the Fed does hike, and interest rates rise and margins get compressed, banks will feel compelled to retain less of their loans – even if net origination is lower. That could actually help kickstart the resi MBS market." – Adam Murphy, chief executive, Empirasign.

Global Capital


September 11, 2015

Wednesday saw US$930m of ABS up for sale, according to data from Empirasign. Some $635m hit the market on Thursday.

IFR Markets

BWICs Fail as Credit Concerns Worry CLO Equity Investors

September 09, 2015

Six dealers distributed price talk averaging a price of around 52 for the equity piece for the post-crisis mezzanine of one manager, according to data from Empirasign Strategies. In mid-August the same equity tranche received price talk from seven dealers averaging about 65.

LCD News


August 28, 2015

As a sign of this alarm, a virtual blackout took hold in a CLO bid list trading between Monday 2pm and Wednesday 1pm New York time, according to data provider Empirasign.

IFR Markets

Investors Cool on New ABS Deals as Sell-Off Deepens

August 15, 2015

And though 16.8% did not trade, the volume was more than the combined US$7.5bn tally of bonds out for bid during the same week in August 2014, according to data provider Empirasign.


Wave of consolidations reshapes student loan ABS

August 13, 2015

Only eight BWICs included student loan ABS this week, according to data from Empirasign.

Global Capital

New US$2.8bn CMBS lineup to test clearing levels

July 22, 2015

In the secondary market, the total volume of CMBS out for bid has dropped 31% in the past 15 days of trading versus the prior three-week period, according to data from Empirasign.


Legacy non-agency RMBS widens on big sales

July 20, 2015

A series of large BWICs were sold entirely, including one totalling around $635m, according to data from Empirasign. A $1.22bn list of interest-only legacy non-agency paper was also sold in full, by a syndicate of 17 dealers.

Global Capital

Student loan ABS facing headwinds on ratings

July 13, 2015

Data from Empirasign showed US$412.7m in student loan ABS paper out for bid in the past week - nearly double the US$219m seen in the week of the Moody's decision on June 22


SoFi sells triple-B tranche in latest and largest ABS

June 02, 2015

A chunk of CCOLT 2015-1 traded today at a dollar price of 101.21, according to Empirasign, although there was no data on MPLT 2015-CB1.

Global Capital

Distressed Diva Tilton Has More Than Just the SEC to Worry About

April 01, 2015

The $532 million Zohar I, assembled in 2003, comes due starting in November. The $1 billion Zohar II matures in January 2017, and the $1.01 billion Zohar III in April 2019. Pieces of the third Zohar CLO were recently trading at about 71.5 cents on the dollar, according to Empirasign Strategies.

Bloomberg News

Investors sell SDART following disclosure

March 31, 2015

As of midday on Tuesday, some 35 BWICs that were placed on Monday and Tuesday remained outstanding for securities issued off of Santander's SDART shelf, according to data from Empirasign.

Global Capital

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