New issue volume in consumer ABS reached $10 billion for year-to-date 2011 and much of the activity so far this year has been primarily from the auto ABS sector.

The new issues pipeline for Auto ABS has seen a cross-section of issuers in the prime, near-prime and subprime lending areas. And in most cases demand for new issue ABS was reported to be quite strong, with many tranches several times oversubscribed and pricing spreads generally at or inside the initial price guidance.

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