The downside is comin fast and furious now on AAA's. Must be end of year purge. 16 months and counting..............
you've got to wonder whos doing all the selling. one would think that by now every bank would have hedged, perhaps the folks from mortgage risk management now are on the hedging department
ABX indices pounded right back this week. This could be some show into year end. No wonder mkt is worried about MS GS reporting on Dec 16th/17th
another down day. Looks like end of year flush on tap. One has to wonder if these things have ANY value @ all, regardless of rating.
Jim grant was on bloomberg saying he's buying super senior mortgage backed stuff because they were at 20-40c on the dollar the they are 'money good' as a long defaults and severities dont go to the stratosphere, he said one could buy through ETFs. any idea of ETFs that has this?MBB seems to be agency debt only
I've been watching these lately. Even the BBB paper is off the lows. The equity markets have not rallied at all in 2 weeks, only consolidation. I suspect we are due for a massive spike higher.