International SF Weekly: Data Addendum: Slowing but not stopping?

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International SF Weekly: Data Addendum: Slowing but not stopping?

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International SF Weekly

Data Addendum: Slowing but not stopping?

Both primary and secondary market activity remained elevated last week, and signs of a 27 July 2026

holiday slow-down are now visible. Europe and Australia priced 3 new transactions each, Structured Finance

with the visible pipeline having 1 new transaction each. EUR CLO saw 5 new issues, 4 EMEA, APAC, LatAm

resets and 2 refis last week. Issuers may have another reason to rush deals to the ABS CMBS RMBS CLO

market: the escalation of the conflicts in the Middle East and Eastern Europe, and the

escalation of the oil prices and potentially of food prices (due to El Nino) make for a AlexanderInt'l Str. Fin.Batchvarov,Strategist CFA

complex market make-up. While we see a slow-down in market activity due to the BofA Europe (Zurich)

+41 44 297 7469

summer holidays and in hope of conflicts’ ramp-down, we do not expect market activity alexander.batchvarov@bofa.com

to come to a complete stop: taking advantage of narrow windows of opportunity on the Altynay Davletova, CFA

primary or secondary market may be the summer 2026 modus operandi of the European Int'l MBS/ ABS Strategist

MLI (UK)

and Australia SF markets. +44 20 7995 3968

altynay.davletova@bofa.com

Primary market: Too busy for the season Mark Nichol

Int'l CMBS/ABS Strategist

EU/UK RMBS and ABS: The primary market was still relatively busy last week, with UK MLI (UK)

2nd lien RMBS and ESP RPL RMBS priced and a UK reverse mortgage deal preplaced. +44 20 7996 0965 mark.nichol@bofa.com

The pipeline is empty, given the start of the holiday season in Europe, but we do not rule

Dustin Walpert, CFA

out more private placement activity.