The CDO issuance lag earlier this year seems to have gone the way of winter, with a number of deals pricing last week and several more entering the pipeline - but it's still a market largely dominated by RMBS volumes. According to market figures, the near-term pipeline is at $25.8 billion equivalent.

Fuelled by falling default rates on both the speculative and investment-grade levels and a decrease in downgrade activity, corporate credit quality is beginning to show signs of stabilization - the impetus needed to fuel further growth in the CDO sector. CDO issuance is in fact on the rise, which could be a reflection of this renewed investor confidence.

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