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In the secondary market, Banc One Capital Markets sees value in equipment ABS, which is trading relatively wide to prime auto, and could tighten up when new issue equipment begins to hit market. According to Banc One, the months of March through May are typically the heavier months for equipment ABS.
March 17 -
As it had anticipated in January, The Spiegel Group's First Consumers National Bank credit-card trusts moved into early amortization last week, following three consecutive months of negative excess spread.
March 17 -
Last week Standard and Poor's Corp. released its second Structured Finance Market Observation survey, gauging the market sentiment on the latest hot topic on the consolidation front - Financial Interpretation No. 46, released in mid-January by the Financial Accounting Standards Board. This survey is a followup to last year's inaugural questionnaire, which determined that while structured-finance market participants were in favor of FASB's goals, consolidation was not the way to go about accomplishing them.
March 17
