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Citi's ABS analyst Mary Kane quipped,........>

US ABS
US ABS: Citi's ABS analyst Mary Kane quipped, "Apres Irma, Le Deluge of ABS
Supply." She urged to remain overnight ABS as "we continue to like overweighting
ABS, which is at the tighter end of the 5-year historical range yet IG
subordinate auto ABS is nonetheless 50bp cheap to corporates."
- She added that "CABS returned 200bp through August, outperforming equivalent
short WAL Citi BIG indices. Subprime auto ABS returned 292bp YTD, 75% more than
prime auto loan." 
- She said too that "Citi economists still expect balance sheet reduction in
September and to hike in December, but the estimate is dependent on certain
factors, including inflation and storm-related data volatility."

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