Fitch surveyed 76 market participants at the Global ABS conference for their expectations on the market. Some 59% said they expected 2015 issuance to be higher than the 2014 €80bn tally. Some 46% expected issuance to grow by 10% to 25% and 13% thought it would expand by 25% or more. About a third of respondents, 35% expected issuance to be broadly flat, while 5% predicted issuance volumes to fall by 10% to 25%, and just 1% expected a contraction of new issuance volumes of more than 25%. Participants expected consumer ABS and CLOs to see the largest increase, attracting 37% and 31% of votes, ahead of RMBS with 20%. However, 60% saw regulatory treatment as the biggest challenge for the market, ahead of economic activity with 14%, declining yields 11%, limited assets 10% and quantitative easing 5%.
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