It feels like every time I step off the desk there’s a flood of new issue launched and/or priced, and last week was seemingly no exception. Offerings range from the vanilla to the exotic, but none is devoid of interest and intrigue, and we will gallop through some of these transactions as swiftly as we can in a little bit. 

Hanging over the market, though, is the deepening gloom about the UK economy. Much the largest and most diverse securitisation market in Europe, grit in the gears of the UK specialist finance market means grit in the gears of securitisation.