STRUCTURED FINANCE COMMENTARY
Feb 28, 2013
Global ABS Review
As with the rest of the credit market, the European ABS market has been volatile during February. The last quarter started bullish but major negative macroeconomic news, such as French PMIs plunging to a historical low PMI of 42.3, elections in Italy, the financial crisis in Cyprus, the UK ratings downgrade and a crash in term of auto manufacturers' new sales have all helped push spreads a bit wider.
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