New issue supply increased substantially last week as the more traditional sectors all saw top-tier names re-enter the primary. Following just $9 billion of supply in the previous two weeks combined, last week saw roughly $8.7 billion price with particularly strong representation in the auto loan and credit card sectors.

The top names in the auto sector were out with billion-dollar-plus offerings as BMW Motors, American Honda Finance and Toyota Motor Credit had no problem finding buyers for the super-prime collateral backing their respective deals.

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