ABS East Leaves a Sense of Optimism

Our informal survey of this past week’s securitization industry gathering in Miami would suggest that there continues to be a moderate sense of enthusiasm for the slow but steady recovery of the structured finance markets.  IMN’s ABS East event has traditionally been a time for the industry to take stock of the past year’s activity and to begin planning for the next year.  With the general malaise of the past several years, the event had become something more akin to a group therapy session for the industry.  Perhaps not the case this year.

Good activity to report both for the year and looking forward in several asset classes including CLO’s and ABS securities including autos and credit cards.  Several areas of innovation in Latin America, particularly in Mexico where several innovative structures are being completed.  Commentary around “regulatory clarity”, while continuing to exhibit longstanding frustration in terms of pace and workability, was mostly centered on the feeling that putting the US elections behind will add some additional momentum to a slowly increasing pace for rational implementation.

It was very good to once again see investors, issuers and bankers discussing “real” deals and deal flow for the upcoming months.  All in all, a general feeling of better days ahead is what we take away from this year’s ABS East event.

About markferraris
Managing Principal Orchard Street Partners LLC

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