Secondary Market/Investors
The ‘Race to Zero’ on the ABX Continues …
By
PAUL JACKSON
October 29, 2007 4:09 PM CST
There is no other way to say it - things are getting ugly over on the ABX indices. Of the 20 issues traded, 17 settled at new all-time lows today. SEVENTEEN! I had to screencap the settlement chart for posterity’s sake:
If you’re curious to see what’s taking place in CDS prices in even the most senior tranches, here you go — from ABX-HE-AAA 07-2:
Good thing Halloween is around the corner, because what’s taking place on the ABX right now is just plain S-C-A-R-Y. And it’s not getting any better on the TABX indices, either.
(HW note: For those that don’t know, the ABX indices generally track against the U.S. subprime RMBS market, while the TABX indices are generally used as a proxy for what’s taking place in the CDO marketplace.)
Print This Article
recent stories by department
Origination/Lending
Secondary Market/Investors
Get your HW Fix
Join nearly 10,000 bold subscribers who already get our daily email delivered to their inbox -- it's free, and a great way to ensure you don't miss something.
Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net
