Dallas, TX | 1/15/2014
By, JL of Structured Credit Investor
Certain areas of the structured finance recruitment sector are growing, but large parts remain muted. European activity is all but moribund, while the picture in the US is mixed.
The US securitised markets show several areas of growth, not least in CLOs. While the CMBS and RMBS sectors are mixed, the ABS market is anticipated to become even quieter going forward.
“Hiring in US ABS is most likely going to be down this year. We will certainly not be focusing on ABS because we expect activity to be fairly steady but without robust hiring or growth,” says Chadrin Dean, consultant at Integrated Management Resources.
He continues: “Likewise for US RMBS we are expecting a bad year. Just the mention of tapering has pushed the 10-year treasury to 3% and, as mortgage rates increase, there will be a decline in the number of people looking for mortgages. Tight credit has made it very hard to get a mortgage and we expect the RMBS market to decrease 10% to 20% this year.”