The US asset-backed securities market is enjoying a midsummer buzz as bond managers overlook concerns about unemployment levels to put a stockpile of cash to work. Relatively scarce supply has stoked a robust technical bid for securitised paper, offsetting lingering worries about a rise in loan delinquencies as US employment is stuck at recession levels, analysts and investors said. In the first seven months of 2020, ABS issuance totalled US$107.84bn, down 25% from the same period a year-ago, IFR data showed.
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