Despite a steadier pace of issuance in the second quarter for the consumer ABS market, the first half of 2008 finished significantly behind last year's totals.

Although overall volume was lackluster, issuance in the credit card sector remained resilient, contributing just over half of the total volume in the ABS market year-to-date, according to a recent report from JPMorgan Securities. Currently, credit cards are up 3% when compared with 1H07 while autos and student loan deals are down 19% and 30% respectively, the bank said.

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