A record-breaking month of January came to a close last week, as the market priced just under $3 billion, wrapping up a $24 billion month of new-issue supply. This bests January 2001, which had a then-record $23.4 billion, a significant increase from the $9 billion that priced in the first month of 2000.

Most of the supply this month came in the auto sector, and approximately half of that issuance came in the form of one deal, the $5.7 billion Ford transaction - which kicked off the year. Home-equity paper made up approximately $6 billion of supply and credit card issuance also totaled just over $6 billion as well.

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