Issuance in the U.S. ABS primary market slowed considerably during the week following the Presidents' day holiday. As of last Thursday evening, just shy of $3.5 billion had priced, compared with the robust $18 billion that made the rounds the week prior.

However, secondary flows were active for the week, as investors took profits on the heels of a robust and well-bid primary calendar, according to analysts at Credit Suisse First Boston. "Secondary technicals remain very positive, especially for fixed-rate assets," analysts wrote in a report.

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