Last week was the quietest it has been in a while as single one-off student loan offering was the only deal to price by press time. New issuance shriveled and died as the market waited for an interest rate hike and the quarter to end.

The Federal Reserve rate hike, once its inevitability was confirmed, rested the trepidation that so arrested the market in the weeks before it was announced. Most ABS investors described feeling able to walk off the sidelines to take advantage of spreads again.

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