ABS issuers hurry to market leaving sparse pipeline

From famine to feast to famine — a neat summary of the European ABS market so far this year and its likely performance over the coming weeks. With very little supply up until recently, the pipeline of European asset backed securities emptied this week as issuers across asset classes decided to launch deals before Easter. However, the market now looks set to go quiet, despite favourable spreads and plenty of buy-side liquidity as shown in this week’s transactions.