Problem typing URL in editor

I've noticed some odd behaviour when entering URLs in the editor directly.

1. If I copy/paste the URL from my browser's location field the editor (running in IE) automatically creates it as an <a href...>.

2. If I type a URL into the editor an <a href...> *is not* automatically created *unless* a space is entered immediately following the URL.

What I'd like to do is:

1. Have the editor create an <a href...> regardless of whether or not I've entered a space after typing the URL.

2. Modify the source such that when the <a href...> is automatically created a target is set (hardcoded to "_blank" is fine).

Anyone experienced this behaviour before? Any ideas where in the source the link is automatically created?

Any help is appreciated.

Cheers,

Brandon