Prospects for CDO issuance is slim. As JPMorgan Securities analysts said in a recent report, "supply has yet to come into the market, with many prospective sellers waiting for market stability."

This sentiment is reflected in the CDO manager rankings compiled by Thomson Reuters for the period covering the first quarter to third quarter 2008. Industry totals for the period only reached $20.1 billion, a fraction of the $258.3 billion the market saw over the same time period last year.

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