Will U.S. Government Stimulus Programs Be Sufficient for the Structured Finance Market?
In response to the Coronavirus Disease (COVID-19), the U.S. Federal Reserve (the Fed) has made several different moves to stem market volatility, increase liquidity, and preserve a functioning market. DBRS Morningstar notes that, while some measures may help to extend credit and boost liquidity, they may not necessarily provide enough relief to the U.S. structured finance market in the short term as spreads continue to widen, making the economics of securitization even more challenging. As a result, many issuers are postponing deals, preferring to sit on the sidelines until the current uncertainty begins to diminish.
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