QueensGiant

[QueensGiant @GiantQueens]

$12.1bn ABS week-to-date through Friday. Compass Datacenters infrastructure. Octane RV/Marine equipment. Ellington residential non-qualified. Three origination types, three investor bases, one market. Servicer differentiation is execution currency.

[QueensGiant @GiantQueens]

Bloomberg News, thanks for the opportunity to discuss private capital markets today.

[QueensGiant @GiantQueens]

QueensGiant is now NaVOBA-certified as a veteran-owned business.

For issuers, sponsors, banks, and institutional investors, QG offers a way to partner with a certified veteran-owned firm while accessing senior-level capital markets execution.

[QueensGiant @GiantQueens]

US ABS at $176.7bn YTD, up 25%. But the growth is concentrated: esoteric +51%, RMBS +54%, auto barely +3%, CLOs down 14%. Investor allocation is moving faster than most market assumptions.

[QueensGiant @GiantQueens]

QG Founder Phil Toth on CNBC. Thanks CNBC for sharing our story. QueensGiant is independent capital markets advisory!

[QueensGiant @GiantQueens]

Deal speed in structured finance correlates more with operational readiness than market timing. The documentation gap is where most timelines break down.

[QueensGiant @GiantQueens]

Deal speed in structured finance correlates more with operational readiness than market timing. The documentation gap is where most timelines break down.

[QueensGiant @GiantQueens]

ABS issuance remains muted in Q1 despite stabilizing mortgage spreads. [DATA: YTD ABS volume vs. 5-year average — source: SIFMA]. Liability-side funding constraints persist across originator balance sheets.

[QueensGiant @GiantQueens]

Market windows in structured finance are shorter than they were two years ago. Moving in week one executes differently than moving in week six.

[QueensGiant @GiantQueens]

[DATA: current 10Y Treasury yield and recent Fed dot plot signals — source: https://t.co/xnPDDKegch Reserve]

10Y yields tracking recent Fed communication shifts. Rate terminal expectations reset lower across curve.

[QueensGiant @GiantQueens]

ABS issuance volumes down 22% YoY through Q3. Servicer liquidity pressures and rising delinquency rates narrowing investor appetite for non-agency paper.

[QueensGiant @GiantQueens]

ABS issuance pace slowed in November across residential and auto sectors. [DATA: current month-to-date issuance volume vs. 3-year average — source: Securities Industry and Financial Markets Association]

[QueensGiant @GiantQueens]

ABS issuance volumes down 18% YTD versus 2023 baseline. Servicer liquidity constraints and rating agency scrutiny on loan-level performance driving narrower deal windows. [DATA: YTD ABS issuance vs. 2023 — source: SIFMA/Morningstar]

[QueensGiant @GiantQueens]

Commercial mortgage delinquencies rose to [DATA: current CMBS delinquency rate in % — source: Moody's/CBRE] in latest servicer reports. Refinancing pressure concentrated in 2024-2025 maturities amid higher rates.

[QueensGiant @GiantQueens]

ABS issuance pace slowed to [DATA: YTD volume vs 5-year avg — source: SIFMA/Bloomberg] as refinancing demand contracted. Primary market resilience remains contingent on servicer funding costs and collateral performance trajectories.

[QueensGiant @GiantQueens]

[DATA: current IG credit spread in bps — source: FRED/ICE BofA index]

IG spreads have widened [X] bps this week on Fed hawkish messaging. Refinancing demand remains concentrated among tier-1 issuers.

[QueensGiant @GiantQueens]

[DATA: current mortgage-backed security spreads vs. 10Y Treasury — source: FRED/SIFMA] MBS valuations have compressed 15bps YTD as refi volumes contract and servicer cash flow pressures mount. Origination margins remain under structural strain.

[QueensGiant @GiantQueens]

ABS issuance pace slowed in Q4 as servicer advances tightened and origination volumes compressed. Liquidity conditions favoring lower-coupon rehypothecation structures.

[QueensGiant @GiantQueens]

IG credit spreads widened 12bps this week as rate expectations reset. Technicals remain constructive but duration risk pricing has shifted.

[QueensGiant @GiantQueens]

ABS issuance remains below 2023 levels despite improved credit conditions. [DATA: YTD ABS volume vs prior year — source: SIFMA/Bloomberg]