New issuance slowed to a crawl as equity markets spiraled downward during the first half of the week. Just a handful of transactions priced for a total of just $3.29 billion, with the asset-backed market showing the first signs of weakness this year.

With no auto loan, credit card or home equity loan issuance in the public markets greater than $500 million in size, the market turned to off-the-run issuers for activity. Names like Access Group, CDC Mortgage and Option One Mortgage's Woodbridge - as well as the return of AIG Credit - were circulated last week, the majority of which pricing at the latter half, once the Dow Jones Industrial Average topped the 8,000 mark.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.