Monday, June 25, 2007

ABX in new territory

The ABX market has dropped into new uncharted territory.

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?

1 comment:

Rob Dawg said...

Popcorn? We'll need scuba gear.