Draghi Breathing Life Into Moribund ABS Bond Market
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For the first time in four years there are signs of life in Europe’s market for asset-backed securities.
Mario Draghi’s plan to kick-start growth by buying the securities spurred more than 10 billion euros ($12.7 billion) of issuance in September. That’s almost double the monthly average for the year, signaling a revival in a market that’s shrunk more than 40 percent since 2010, according to JPMorgan Chase & Co.