Faced with rising consumer credit-card delinquencies, buyers are not interested in bonds backed by credit-card payments. Top-rated card-backed securities maturing in three years traded at a spread of 475 basis points more than Libor during the week ending October 30, compared with 50 basis points higher in January. Sales of credit-card bonds hit zero in October, the first time since 1993.
Source: Bloomberg
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment