In  the last four weeks, subprime auto and FFELP SLABS have tightened five basis points to 10 basis points, which is the most of any asset class in that period, Wells Fargo analysts said in a report released this afternoon.

FFELP student loan spreads have performed well in the past several weeks, even though analysts think that there is room for added tightening. The market has not only accepted the possibility of rating volatility, but has moved on to examining SLABS fundamentals and valuations.

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