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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (26504)	4/4/2008 6:28:08 AM
From: Robohogs	Read Replies (2) \| Respond to of 52153

OT Spreads I do not have my spreadsheets here at home so cannot definitively update the data but I can say: NA HY 644 from 652 new low for move NA IG 114 from 119 (still room to move) Europe IG 97 from 102 (new low for this move) Japan 103 from 112 Australia 128 from 157 LBO Loan 382 flat I can also say AAA tranches from structured finance keep coming back in price but Primus (IG guarantor in CDS mkt along with some subprime guarantees a la ABK/MBIA which blew up and which has negative GAAP book but probably positive economic book but who knows so I would never buy) has not really come back much, indicating either fears about its structured book or disbelief in recent IG moves. This IG move is in by almost 100 bps which will hurt future biz but dramatically improve the mark to market. I think most of the mark though will come in Q2 as recent moves have been extreme after Q1 ended. Jon