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Sales of asset-backed debt in Europe set to jump 50% to 115b euros next year

ECB steps up purchases in latest stimulus action

London

THE purchases of asset-backed securities by the European Central Bank (ECB) is boosting confidence in a revival of the market seven years after it was shuttered by the financial crisis.

Sales of the debt will jump next year by the most since 2007, increasing by about 50 per cent to 115 billion euros (S$186 billion), according to Credit Suisse Group, Morgan Stanley and Barclays plc are forecasting 100 billion euros of issuance, while JPMorgan Chase sees 95 billion euros of new debt and Bank of...

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