As expected, issuers poured into the primary ABS market aiming to complete year-end funding. Heading into Friday, $8 billion of supply had priced, with an additional $5.5 billion pending, as the first snowfall of the winter on Thursday led to late entry and early departure for many east-coast ABS players. All tolled last week, over $13 billion was shown to investors and issues were already starting to surface for this week.
Auto loan and home equity supply came in at $4 billion each, with credit cards accounting for $3.5 billion of supply. Off-the-run assets made up almost $2 billion, as auto fleet lease, equipment lease insurance premium and timeshare ABS made the rounds.