ABS market professionals are still dealing with a sluggish issuance calendar, and with four weeks remaining in 2007, they do not expect to unwrap the gift of recovery anytime soon. Between Nov. 19 and press time Nov. 28, around $9.7 billion of deals came to market.
A couple of credit card deals, a cashflow CDO and a student loan ABS deal marked an otherwise calm stretch for the ABS market. Credit Suisse launched a $240 million cash-flow CDO called Apidos CDO VI, but it was unclear what type of underlying debt was in the deal. If the current Apidos structure followed the previous one, then corporate loans likely make up the transaction's underlying debt, said market sources.