Excess Spread - Sun sand and inflows (we hope), 1x is all you need
- Owen Sanderson
The beatings continue
Normally journalists love a bit of bad news but this is getting a bit much. We’re going to try to stop this newsletter being too much of a downer and search hard for some good news, but there’s just a lot of ugliness out there.
We’re still the best part of a month off IMN and Afme’s Global ABS in Barcelona, but after last week, there’s a sense it can’t come soon enough (especially after the three year wait; we’re not going to count Edgeware Road in September). Might just be my imagination but I think people started signing off their phone calls “see you in Barcelona” extra-early this year.