Securitized Products Weekly

J.P. Morgan's Securitized Products Weekly (September 25, 2026) covers North America agency MBS, RMBS credit, ABS, CMBS, CLO and international ABS. In MBS, the latest leg higher in rates has moved mortgages firmly to the wide side of their recent OAS range, though the technical picture is much more supportive than in late 2023; 5s look the cheapest they have in a while, and the report revisits the best way to visualize float in a given coupon. RMBS credit: despite relatively modest September issuance, supply is on pace to surpass last year's total with strong demand for new issue paper and rangebound spreads; the report compares recently released proprietary GSE scores versus other alternatives and examines potential implications of a shift from tri-merge to single bureau credit scoring. ABS: a busy new issue calendar was received with strong demand and tighter spreads amidst 20-year high 3yr treasury yields;