The new issue ABS market had another sub par week, eking out just $8.9 billion in new supply, of which $6.3 billion had priced at press time. For the second week in a row, the auto sector came out on top with $3.1 billion, more than double the $1.4 billion issued out the mortgage ABS sector.

The recent dearth of supply has caught the market off guard, said Barclays Capital researcher Jeff Salmon. "Aside from bellwether transactions from Capital One Financial and GMAC Swift, overall supply has been less than people had expected for this time of year," Salmon said.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.