International SF Weekly: AUD NC RMBS and European equipment lease ABS

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International SF Weekly: AUD NC RMBS and European equipment lease ABS

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International SF Weekly

AUD NC RMBS and European equipment

lease ABS

The primary and secondary activity continued uninterrupted by the resumption of 13 July 2026

hostilities in the Gulf. Nearly a dozen new transactions priced on the primary, and the Structured Finance

pipeline suggests another dozen in the making. Spreads were unchanged WoW, although EMEA, APAC, LatAm

some steepening of the credit curve can be observed. See International SF Weekly ABS CMBS RMBS CLO

Data Addendum: Consumer ABS bonanza report, dated 13 July 2026.

Alexander Batchvarov, CFA

Commentary: Busy uneasy Int'lBofAStr.EuropeFin. Strategist(Zurich)

The resumption of hostilities in the Middle East was not a surprise and fits into our view +41alexander.batchvarov@bofa.com44 297 7469

of a ‘frozen conflict’, one where an all-out-war is of a low likelihood, but an all-out-peace Altynay Davletova, CFA

is out of reach. Given the relative value dynamics in the fixed income markets, Int'l MBS/ ABS Strategist

MLI (UK)

securitisation bonds are increasingly viewed as the investment to be in or the +44 20 7995 3968

investment one cannot miss selectively within constrained tiering. We now expect a altynay.davletova@bofa.com

staggered market activity over the summer period as the market may not fully close: Mark Nichol

Int'l CMBS/ABS Strategist

issuers may not wait for a better market, and investors may not be fully absent given MLI (UK)

enhanced mobility. +44 20 7996 0965 mark.nichol@bofa.com

RMBS: AUS NC RMBS arrears have a strong link to LTV DustinEuropeanWalpert,CLO StrategistCFA

Loan-level data for selected AUS NC RMBS shows that LTV remains the factor with the MLI (UK) +44 20 7996 0982

strongest link to arrears.