S&P finally says subprime is mostly junk
- Thread starter ASusilovic
- Start date
ABX subprime index near record lows
By Leslie Wines
Last Update: 1:31 PM ET Jul 16, 2007
NEW YORK (MarketWatch) - The ABX "BBB" 07-1 index, which gauges risk in the subprime mortgage lending industry, sank to near-record lows Monday, amid persistent worries about deteriorating loans in that industry. The index measures the performance of loans made dueing the second half of 2006, when many home purchase loans were made to buyers with shaky credit standings. The index traded around 44, nearly its weakest level ever. "The BBB- 07-1 vintage tracks loans that were originated at the end of 2006, a period where losses on subprime loans have been particularly steep," said Tony Cresenzi, fixed-income analyst at Miller Tabak.
By Leslie Wines
Last Update: 1:31 PM ET Jul 16, 2007
NEW YORK (MarketWatch) - The ABX "BBB" 07-1 index, which gauges risk in the subprime mortgage lending industry, sank to near-record lows Monday, amid persistent worries about deteriorating loans in that industry. The index measures the performance of loans made dueing the second half of 2006, when many home purchase loans were made to buyers with shaky credit standings. The index traded around 44, nearly its weakest level ever. "The BBB- 07-1 vintage tracks loans that were originated at the end of 2006, a period where losses on subprime loans have been particularly steep," said Tony Cresenzi, fixed-income analyst at Miller Tabak.
Quote from ASusilovic:
http://www.marketwatch.com/news/sto...x?guid={DFBA4993-031E-4E88-8F56-5B08FD9AA07D}
Wow, I am impressed by Standard and Poor´s performance....Maybe \"performance\" isn´t the right expression to use...maybe \"default\" would describe it better....
That would be a much better way of looking at it..