Close to $11 billion of new issue supply priced last week in a three-day flurry of pricings, with continued strong demand for top-tier credit card names, accounting for half of last week's issuance. It was a solid week for the monolines as well, with seven of the transactions backed by at least partial guaranties, and five of those with full wraps.

While the upper crust of the market need not seek out a monoline, issuers that are susceptible to headline risk due to the sector in which they operate or the name itself have sought out wraps in order to be on the safe side, sources said.

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