Year-end Wind Down Begins; Focus on Legacy Lehman RMBS
December 02, 2014A senior A1 tranche on a SASC 2006-S1 deal last covered at 90.01 on August 26, according to data from Empirasign.
IFR
Nomura Said To Win Mortgage Auction, Despite Traders' Absence
November 19, 2014Buyers pushed back against aggressive pricing for the 112 line items of mostly subprime paper, said Empirasign data president Adam Murphy. At least 50% of the Fortress list received "Did-Not-Trades" from bids wanted in competition. The sale may have been meant as a "pricing exercise," one broker said, requesting not to be named because of client involvement.
American Banker
Deal rules block auction of vintage CDO
November 07, 2014A US$3m slice of a mezzanine H tranche of pre-crash JP Morgan deal JPMCC 2005-LDP2, for example, saw talk of just 27.30 cents on the dollar in September, according to Empirasign, an ABS and MBS bond trading data provider.
Reuters
European bank sells US$1bn in RMBS to raise capital
November 06, 2014The list of almost 60 bonds sold Tuesday fetched a weighted average price talk of US$56.41, according to Empirasign, a trading data provider, with most seeing price talk from an average of five to six dealers.
IFR Asia
BayernLB repays some state aid after selling toxic assets
October 30, 2014According to trading data provider Empirasign, price indications ahead of the deal were 74.28 cents on the dollar for the US securities and 91.72 cents on the euro for the European assets.
Reuters
Credit Suisse Swoops Up Precrisis MBS in $7B Auction
October 28, 2014This week's auction is the largest sale from a European-based bank since a year ago, and it closes in on a record-sized auction from Lloyds Bank, which in May 2013 offloaded $8.9 billion in vintage U.S. mortgage-backed securities, according to data firm Empirasign Strategies president Adam Murphy.
National Mortgage News
Citigroup, Credit Suisse and Goldman Win US$7bn RMBS List - sources
October 28, 2014Talk reached an average US$74.28 dollar price on the US list, according to Empirasign, an ABS and MBS bond trading data provider that had talk on 99% of the list. For the European parcel, talk across five dealers averaged US$91.72, according to Empirasign.
IFR Asia
Record CLO issuance could still fall short
October 09, 2014Freddie Mac saw strong bids for its roughly US$1bn list of pre-crash senior RMBS bonds offered Wednesday, with 12 of the 13 lots trading, according to market data company Empirasign.
IFR
Bonds on Freddie's USD 998m BWIC Talked in 40–90 Range
October 07, 2014The Wednesday BWIC is drawing increased scrutiny compared with some other recent large sales that have sailed through on the tailwind of improved housing fundamentals and favorable technicals. It is the largest non-agency BWIC since a USD 1.51bn offering in early September, according to DW ABS and Empirasign data.
Debtwire
Widening in US CLOs takes toll on equity
October 02, 2014But many of this week's bid lists were never sold. Some 67% of the $409m of CLO bid lists in the market on Wednesday, for example, did not trade, according to data from Empirasign.
GlobalCapital
Pimco Preparing for Redemptions as Gundlach Attracts Money
September 29, 2014Those securities were among the largest holdings of that type in Pimco's $3.6 billion Total Return exchange-traded fund, according to data compiled by Empirasign Strategies LLC and Bloomberg. Banks are also circulating a list of $77 million such bonds for sale today that match the fund's remaining holdings, the data show.
Bloomberg News
JPM continues to buck jumbo mortgage trend
September 14, 2014Chart: Non-agency/Alt-A RMBS trading volumes
GlobalCapital
Freddie preps US$1.5bn legacy RMBS list - sources
September 03, 2014A US$66.3m 1A slice of a subprime FHLT 2006-B bond, for example, is talked at just 48 cents on the dollar, according to Empirasign data, a market data company.
Reuters
Correction time for subprime autos as AmeriCredit squeezes through
August 20, 2014Trading volumes of auto ABS were normalising this week, after some $1.17bn of paper changed hands the week before last, according to data from Empirasign.
GlobalCapital
Late-summer slowdown hits hot ABS market
August 18, 2014Price talk on the first subprime list offered at 10am runs from a high 90s dollar price for a US$12.1m slice of an ACE 2005-HE7 deal to low-single digits on a US$4.5m mezzanine slice of a CBASS 2006-CB1 bond, according to data from Empirasign, a market data service provider.
Reuters
Alcentra presses on through CLO junior pressure
August 13, 2014Just under €63m of euro CLO paper has appeared in BWICs this week, according to data from Empirasign, which has included small denominations of double-B rated 'Class E' paper from both Alcentra's previous 2014 deals.
GlobalCapital
Hedge funds hit by RMBS margin calls
August 08, 2014Approximately US$135m in risk-sharing bonds was out for bid in each of the past two weeks, the highest levels by far since the programme started in July 2013, according to Adam Murphy, president of market data company Empirasign.
Reuters
Avoca follows ICG to shoot CLO inside 135bp
August 05, 2014The flow has continued this week with around €450m of BWIC lists that have included some European CLO paper on the market, though only a small fraction of that amount has been CLO bonds, according to data from Empirasign.
GlobalCapital
Blackstone Said to Face Higher Costs for Rental-Home Bet
August 04, 2014Bond investors are backing off the securities as competing investments such as high-yield corporate bonds cheapen. Holders sought bids through dealers on about $80 million of existing rental-home notes in widely marketed auctions Friday, according to data from Empirasign Strategies LLC, which tracks securitization trading.
Bloomberg News
Mortgage Investors Doubts Appear in Rally of Risky Notes
July 28, 2014Bondholders last week sought to sell the most government-backed mortgage derivatives known as interest-only securities and inverse IOs through auctions in four months, according to Empirasign Strategies LLC, which tracks securitization trading.