Trading statistics are a mixed bag in the credit derivatives markets these days, but generally filled with more sellers than buyers, according to recent data.
From March 16 through March 18, a total of $1.2 billion of commercialized loan obligations (CLOs) bid lists went out for offers, in-line with $2.7 billion of bid lists for the entire preceding week and $1.5 billion the week before that.
According to market data provider Empirasign, so far this month 67% of CLOs that were bids wanted in competition (BWICs) traded.
But the unloading doesn’t end there. Commercial mortgage-backed securities (CMBS) leads the selling across structured finance products in secondary sales with $16 billion in BWICs offered and 79% traded in the month-to-date.
