With more than $10 billion pricing last week, the U.S. asset-backed market looks poised to set a new record for monthly issuance volume, possibly hitting $40 billion should it continue at this weekly pace. If that happens, the market would surpass $200 billion for the year, exceding last year's record supply totals.
Some market observers are cautious, however, as new supply has been strong all year and it is unlikely that the market would see a third month this year with more than $30 billion of ABS product sold. The current record for monthly issuance was set this March as $37.9 billion of public and 144A supply was placed in the hands of investors. This May, the market saw $37.2 billion price.