Risky RMBS yields return to pre-Lehman levels

Risk premiums on some of the riskiest European structured finance securities have fallen back to pre-Lehman levels, in the latest sign of a revival in confidence among investors in the securitisation market.

London-based analysts at Bank of America Merrill Lynch said in a report yesterday that indicative yield-spreads on UK, Dutch and Spanish non-conforming residential mortgage-backed securities in the secondary market returned to pre-Lehman levels last month.

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