This week's asset-backed pipeline is once again filled with auto transactions. The sector's dominance of ABS new-isuance is a continuation of an ongoing market trend.
According to Sept. 7 Bank of America Merrill Lynch report, higher auto loan debt has contributed to $65.7 billion in auto ABS this year. The level of debt and ABS volume has been supported by higher vehicles sales, analysts said. New-issuance in ABS is currently at $132.2 billion, the bank reported.