New issuance came out of the gate fairly strong last week, with two top-tier captive auto deals announced before Monday even began, followed by deals in the home-equity, credit card sectors and even a small stranded-cost deal. By Thursday, however, issuance had slowed ahead of the holiday shortened session Friday and full market close Monday in observance of the Martin Luther King holiday.

All told, the market priced just over $5 billion of supply last week, less than half the $11 billion-plus the week previous. Of course, supply numbers that week were skewed slightly, with almost half coming in the form of one offering.

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