71.   Rates on four-year fixed-rate auto loans fell in the past week.

72.   Rates on government bonds serve as the benchmark for mortgages, auto loans, and corporate borrowing.

73.   Revolving loans, which include credit card borrowing, decreased, but auto loans rose sharply.

74.   Rising bond yields have lifted rates on everything from auto loans to home mortgages.

75.   Securities firms have already exploited the standard fare for asset-backed bonds, such as credit cards and auto loans, sapping the profitability there, he said.

76.   Several analysts expressed particular concern about the rising delinquency rates, as consumers also fell further behind on mortgages, home equity loans and auto loans.

77.   Securities firms have already exploited the standard fare for asset-backed bonds, such as credit cards and auto loans, sapping the profitability there, Fanlo said.

78.   So would bank auto loans.

79.   Soon enough, the effect will be slower consumer spending and growth as home mortgage rates and auto loans become more expensive.

80.   Still, problems are beginning to emerge in other areas of the asset-backed market, such as bonds backed by auto loans to riskier borrowers.