Automobile ABS put the pedal to the metal early this year as the sector saw one of its biggest starts in recent history. In the first two weeks of the year, nearly $11 billion was issued and 2005 is widely expected to outpace 2004, though by how much is anyone's guess. One thing is for sure, it will take a monster truck-sized calendar to satisfy investor demand and loosen the historically tight spreads, and that is not expected to happen any time soon.

One ABS banker in New York said domestic captive auto manufacturers hungry for financing will be the bedrock of a strong auto ABS issuance calendar this year.

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