UNITED STATES

摘要

GM financial gave the US$43bn subprime auto ABS market a shot of confidence last week after upsizing and pricing a deal well inside guidance levels. The americredit trade was increased to US$1.2bn from US$1bn, and spreads on the trade's riskier classes were pulled in by up to 10bp - bucking a trend over the past few months where smaller subprime deals have been forced to offer higher yields to clear and outstanding deal performance has slumped.