The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: zebra4o1 who wrote (71311)	10/7/2006 1:46:50 PM
From: YanivBA	Read Replies (2) of 110194

Some highlights of the ABX Home Equity index The markit site has a good presentation on it: markit.com It's just the first of group of indexes they are planning. It's built to enable pure leveraged trading. You don't have to hold mortgages to be able to claim protection. Perfect for the speculative short. A list of intended clients. Unlike the DJ CDX when the index rises that means spreads have tightened not widened. The buyer is still the one getting protection and paying the premium, they just reversed the payment system. For charts you can go to the markit site. markit.com I am looking at the BBB- trench because that is where all the action is. It's a new index so they have information only from April. The index trades in batches of underlying mortgages so there is already another batch out the oven. Notice the new batch is not enjoying a recovery after the plunge to Sep 20 while the old batch is climbing back. That could be attributed to the lower quality of the latest batch of mortgages. YanivBA

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