Mutual fund managers invested in securities with any type of credit exposure will want to know that sister publication Asset Securitization Report has learned that another major wave of $2.8 billion-to perhaps as high as $8 billion-in collateralized debt obligation (CDO) liquidations is set to hit the market.

This time what's making them crumble are defaults on underlying high-grade transactions in the automotive, credit card and airline industries.

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