Draghi’s Asset-Backed Debt Revival Nowhere to Be Seen in January
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The market for asset-backed securities in Europe isn’t showing the revival envisaged by Mario Draghi when he started his asset-purchase program.
Sales of the notes totaled 1.2 billion euros ($1.4 billion) in January, the least for any month since August 2011, according to JPMorgan Chase & Co. Two bonds secured by commercial real estate loans in Italy and securities backed by German auto loans made up the month’s sales, the data show.