The asset-backed securities market sprinted to the finish line during the holiday-shortened week as last Monday's market close in observance of Memorial Day got issuance off to a slow start.

Things did pick up, however, as new issue announcements soon hit the wire from DaimlerChrysler N.A. Holdings and Providian Financial's "Gateway" Master Trust. Also seen last week were deals from Sears Roebuck & Co. and Bank of America, bringing total weekly volume to $5.79 billion.

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