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Commentary

Markit ABX indices still at or near all time lows

Increasing liquidity (TED spread at 2!) hasn’t helped subprime prices it seems. The Markit ABX prices, for 07-2 AAA (The AAA tranche of home equity ABS issued in the second half of 07) is at 41.7 cents to the dollar. What, may I ask, is AAA about that?

Stupid Deepak. So many questions.

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