Following a brief stint of holiday inactivity, the asset-backed securities market last week showed renewed vigor, demand, and decent issuance, players said, as spreads tightened throughout the week, and press time totals neared $3 billion, thanks largely to auto loan deals.
Though issuance last week was not out of sight, it looks to be healthy going forward, said one trader. "I think you'll start to see activity starting to pick up," the trader said. "We've had the long weekend, and the conference last week. It kind of knocked some people out of the market."