The Information Management Network/European Securitization Forum Global ABS Barcelona conference is now wrapped, the lights have been dimmed at the beachside nightclubs and the business cards swept off the floor. And while a few stuck around Spain for a quick mini-vacation, it was back to work for the rest.

European deal flow may have leveled out in August for the past three years, but rumors continue to circulate that such may not be the case this year. "I've been told there will be no vacation in August,'" said one covered bond director at ABN AMRO before he boarded his flight back to New York.

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