A mountain of ABS supply hit the U.S. primary market last week, following the holiday-shortened session of trading the prior week. As of last Thursday's close, with $16.5 billion having priced on the week, the market was awaiting a few more pricings - including a massive global U.K. MBS - that could send the weekly total to more than $24 billion.

The home-equity sector once again enjoyed a strong week of new issuance, with roughly $10 billion having priced throughout the week. Just about each underwriter's home equity shelf priced a transaction, including a first timer, as did numerous third-party issuers.

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