U.S. BWIC volume light; secondary market trading volume picks up in CBO, CDO, CLO issues

By Cristal Cody

Eureka Springs, Ark., Jan. 11 – Overall BWIC volume remains light in the second week of 2017, while secondary market volume continues to climb in securitized bond trading, according to sources on Wednesday.

U.S. BWIC volume was thin and mostly concentrated in mezzanine tranches on Wednesday, according to a market source.

On Tuesday, $210.04 million of investment-grade CBO/CDO/CLO issues were traded, up from $44 million of volume on Monday, according to Trace.

The previous session saw $232.33 million of non-investment-grade securities trade, compared to $156.45 million on Monday.

CLO AAA spreads were quoted flat at the start of the week at Libor plus 130 basis points.

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