Investor-placed securitization issuance in April 2025 was €8.3 billion--down 40% on the volume in April 2024. Both the CLO and RMBS sectors saw a significant issuance decline, likely due to difficult capital market conditions brought on by the announcements surrounding U.S. trade tariffs. However, year-to-date securitization issuance of €45.4 billion is still slightly up on 2024.