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.

No comments: