Market updates and sector developments

Freddie Mac is in the market with an US$825m STACR, via joint bookrunners Bank of America and Nomura, and is expected to price next week.

The trade, designated HQA2, consists of three tranches. The US$316m A1 is rated A1/BBB, the US$316m M1 is rated A3/BBB and the US$221m M2 is rated Baa3/BBB.

It will settle week beginning 10 September.