- Wealth PMS (50L+)
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.