Funny enough AAA is coming under pressure while BBB seems to stabilize...any reasonable explanation ?
I see a descending triangle in the AAA and AA indexes. And the BBB looks even weaker. So I guess they are all going to collapse again soon. http://www.markit.com/information/products/abx/history_graphs.html
Bound by zero? Law of diminishing returns to continue shorting paper that's not *technically* bankrupt. Recall that these things are insured [ROFL]. You'll see the BBB paper trade to 10 when an insurer declares Ch.11.