Largely on the strength of consumer ABS assets, the securitization market slowly cranked out several more transactions last week. Also, while some traders reported better demand across the credit spectrum for ABS paper, a trend developing in both the secondary and primary markets, most expected deal volume to slow down considerably as the third quarter comes to a close.
"I think people got what they needed done for the quarter's end," said one trader. "Next week is an early close on Friday, [which is when] you could see some opportunistic credit card issuance. But it will be quiet for the rest of this week and next week."