The ABX market has dropped into new uncharted territory.
http://www.eurobondonline.com/abx-HE-BBB-06-2.Htm
Anything below 82.5 cents is tough to trade.
This implies that the Bearn Stearns issues are NOT contained.
Expect credit to continue to tighten. Thus home sales to continue to drop.
Got popcorn?
Neil
1 comment:
Popcorn? We'll need scuba gear.
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