COVID-19, better known as coronavirus, has had a significant effect on the equity and fixed income markets. The spread of the virus has impacted virtually all asset classes, including structured products. Although we anticipate bid wanted in competition (BWIC) volumes to increase, to date, non-market factors have limited list frequency. We continue to monitor dealer commentary for additional price discovery.

In this alert, we discuss specific valuation issues to consider for CLOs, mortgages, consumer lending, and aircraft leasing.