As anticipated, the U.S. new-issue ABS market picked up steam last week, pricing $12 billion across the auto loan, credit card and home equity sectors. The field was represented from well-known top-tier issuers, well-known mid-tier issuers and a first-time name to the primary ABS market. After a fairly heavy week - which followed the Labor Day shortened session the prior week - deals came at a steady pace, with a few billion set to wrap up late last week or early this week.

The pair of offerings in the auto sector last week from Toyota Motor Credit and Capital One Financial showed the contrast in investor sentiment for corporate parents.

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