ABS begs for ECB to exit
The structured product market is booming, with rampant investor demand leading to record-breaking tights in asset classes such as auto ABS. This has sparked fresh calls for the European Central Bank (ECB) to stop buying up paper in the market, writes Sam Kerr.
Now with the US Federal Reserve declaring that it will start trimming its balance sheet later this year, market participants are urging ECB president Mario Draghi to rein in the central bank’s activity in the ABS market.
For some time, there has been a belief within markets that
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