It was not considered an active week, but it was a week of promise for the Canadian credit markets - a time for some additional appraisal of the recent and successful Royal Bank Golden Credit Card Trust securitization, and a time to realize that, this year at least, there would be no summer doldrums in the Canadian asset-backed market.

Despite some dealers reporting a generally quiet week, just below the surface percolated a number of new deals that should be priced sometime this month.

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