2012 may well turn out to be “Groundhog Year” – or a repeat of 2011- for US Structured Finance, which bodes well for ABS and CLOs, not so well for RMBS and a bit of both for CMBS, according to Fitch Ratings in its latest US Structured Finance Snapshot. ABS will continue to be the envy of all securitized asset types, while CLOs may be substantial increase in new issuance. As for the mortgage-backed sectors, Fitch expects modest improvements for CMBS, while the pipeline for new RMBS remains very small.
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U.S. prime money market funds (MMFs) continued to reduce their exposure to euro zone banks. As of month-end December, exposure to eurozone banks was approximately 10% of total MMF holdings in Fitch Ratings' sample.
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Fitch Ratings' annual reviews and outlooks provide analysis on trends and issues from both industry and credit rating perspectives. In addition, the agency produced a selection of short video interviews with senior analysts discussing outlooks.
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Islamic finance has risen in prominence over the last 30 years. In the current market, where there is an increasing interest in ethical finance, the emerging Islamic banking sector has achieved acceptance, and funds managed by Islamic institutions continue to grow.
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