The U.S. primary ABS market ground through another week of moderate issuance, as volume came to a moderate $4 billion by press time. Another $300 million or so was expected to price by Friday, bringing production in line with estimates.

While acknowledging that the residential mortgage sector produced fewer deals than it does in an average week, one syndicate source said the week was fairly active, and that he expected the rest of May to produce a lot more. The market got going on Tuesday, with a credit card and home equity loan transaction.

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