The U.S. ABS market saw heavy new issuance last week, pricing $10.6 billion of supply, up from just $2.5 billion the week before.

Even with the spate of supply hitting the market, spreads kept moving tighter for top-tier issuers, particularly in the auto and card sectors, as liquidity has once again become all- important. By contrast, despite new tights seen with deals from American Express and Chase Auto, off-the-run names are seeing deals restructured before pricing at widened levels.

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