ABS market takes small steps with jumbo securitisation

A recovery is "well and truly underway" in the beleaguered asset backed securities market with over €5bn of issuance in the last week in Europe – a sign that the securitisation markets may finally be opening up.

The jumbo £3bn (€3.3bn) Lloyds securitisation of a portfolio of HBOS mortgages expected to price this week is a further sign that a re-opening of the beleaguered market is "well and truly underway", according to Deutsche Bank ABS research published yesterday.

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