With $12 billion in asset-backed securities in the market, last week was the heaviest week in terms of issuance so far this year. Supply continues to enter the market at a robust pace, and demand is strong enough to digest it all, sources say. This week, market observers are expecting an equally strong showing.

Citibank's much-anticipated all-subordinate credit card deal priced Monday, after increasing the amount of the offering to $1.3 billion from $850 million. The deal also priced tighter than talk levels.

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