The U.S. ABS primary market returned from the Labor Day Holiday in full force, ushering in the new season with roughly $12 billion in new issue supply last week. The resurgence in volume likely signals an end to the market's summer malaise, exacerbated during the previous week by the onset of the Republican National Convention in New York.

Real estate ABS accounted for more than half of the volume, with about $8 billion having priced, including a $2 billion series 2004-I HELOC offering from Countrywide Home Loans seen pricing Friday.

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