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Ben Bernanke is smiling. Google (among others) gets into the auto and consumer lending business,...
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Tuesday, August 7, 2012, 8:09 AM ETBen Bernanke is smiling. Google (among others) gets into the auto and consumer lending business, grasping for yield by parking some of its cash into ABS backed by these loans. The result of this demand is soaring issuance - auto ABS +50% Y/Y, credit card ABS +257% Y/Y - and falling rates ... one recent note was priced to yield just 0.5%.
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