SFA Market Snapshot – September 21, 2023

Though total ABS issuance shows a decline of 5% year over year, auto ABS is up 19% with nearly $102 billion of issuance to date due to stronger than expected 1H vehicle sales. With six deals currently in the queue, issuance activity is expected to remain robust in September. If the United Auto Workers (UAW) strike is prolonged, ABS issuance may feel an impact. Credit union securitizations are on the rise—with three deals totaling $793 million so far in 2023, following $760 million in 2022—and are expected to gain in popularity. Read More