The asset-backed market slowed down a bit last week, showing moderate activity for quarter-end with close to $3 billion in issuance for the week (6/22/00-6/28/00).

As we close the quarter out, and reflect on the most recent major events, it is clear that autos seemed to shine and dominate at the end of the second quarter, with the huge supply and record-breaking issuance that hit the market in June. The spike in supply caused auto-backed spreads to widen and gave the investors the opportunity to pick and choose what deals to take part in.

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