The deluge of RMBS paper at the end of October has done little to sway pricing away from tight levels. According to market reports, October's volume reached a new all-time record of over 70 billion ($89.26 billion). However, as the month came to a close, over 25 billion remained in the visible, short-term pipeline, with issuance expected to grow in the run-up to year end.

Analysts at Deutsche Bank predict that 2006 primary volumes look poised to exceed 400 billion, which would make securitized products one of the largest sectors in the European fixed income credit market.

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