The potential for a Treasury reduction and subsequent inverse of the Treasury curve created a stir in the credit markets earlier this year. The return of the curve to normal - hence the steepening of the curve - should not have a substantial impact on the asset-backed securities market, analysts said.

"In some ways, it's almost a non-issue for the ABS market, as most of the movement in the Treasury market is happening further out in the curve, in the 10-year and 30-year sectors, where there isn't a whole lot of asset-backed product," said Alex Roever, analyst at Banc One Capital Markets.

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