10 April 2025 | 9:59PM EDT Quality over carry Primary market activity: Bracing for a slowdown The Structured Credit Trader Quality over carry n Using ABS-15G filings as a proxy for deal volume in the pipeline, we find that issuance is set to slow significantly, an unsurprising result given sharp repricing of new issue spreads. n CLO creation has held up admirably, but we think the CLO primary market will start to slow down as new issue spreads catch up to the secondary market. Higher used car prices: An une ...