The ABS show must go on

This week's episode of Another Fine Mezz had a certain morning after the night before feel, with Tom Lemmon and Victoria Thiele still a bit fragile from their midweek fun. Fortunately, George Smith had youth on his side to lend a steadier hand. The trio reflected on a bustling (and boozy!) night at GlobalCapital's 2024 European Securitization Awards.While the event was a great success, it was not enough to stop a pickup in activity in ABS, particularly in euros. Plus in sterling, the market looked on with intrigue as Nationwide initiated its first "drop" of Silverstone Master Issuer stock. The outlook is perhaps not as rosy in CLOs where there could be some spread plateauing after a strong few weeks. Bubbling away in the background are yet more arguments about loan docs as power shifts away from CLO managers. And finally, George gives a masterclass in the art of self defence. 

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