Wednesday, April 8, 2009
ASSET-BACKED CDS TRADES AT NEW ALL TIME EXTREMES
How is this for an unambiguous snapshot of the asset backed market:
- 28 of the 34 CMBX tranches closed at new all time highs today
- 12 of the 24 ABX tranches closed at new all time lows today
NOBODY WANTS TO OWN THIS PAPER !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Please check posts of 11/18/08, 2/24/09 and 3/28/09 for details about the CDS markets.
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