In the midst of the dog days of summer, the ABS primary market generated a solid $14 billion in new issue supply last week, a slight improvement over the previous week and another step out of the summer doldrums as the market attempts to get back to its blistering pace.

The week was even more active in world news, with President George W. Bush announcing his Supreme Court nominee, China announcing it would un-peg its currency from the U.S. dollar, Federal Reserve Chairman Alan Greenspan all but guaranteeing further interest rate hikes, and another round of terrorist bombings in London.

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