2010.09.2815:24:00UTC+00Us Asset Backed Spreads Edge Tighter

News:

• US asset backed spreads edged tighter as stocks ticked higher in afternoon trading and Ford Credit entered the market with a $500mn offering
• Top-rated US asset backed spreads traded tighter, and last traded at about 66 bps, 2 bps tighter for the week - BoA
• Ford Credit Floorplan Master Owner Trust A 2010-5 was the latest to launch a new deal, with Ford Credit planning a $500mn securitized deal - IFR
• Top-rated auto ABS bond spreads have narrowed to 55 bps, 1 bps tighter for the week, and down from a recent high of 78 bps in June - BoA