(Bloomberg) -- Subprime mortgage securities created
in the first half of 2007 are about as likely to default as those
made last year, according to a new series of benchmark credit
derivatives.
``ABX'' credit-default swaps linked to 20 subprime securities
rated BBB- and created during the first half of 2007 traded for
the first time today at a mid-price of about 51.5, translating to
an annual cost for default protection of more than $1.9 million
per $10 million of bonds, according to Goldman Sachs Group Inc.
Read more at Bloomberg Bonds News
in the first half of 2007 are about as likely to default as those
made last year, according to a new series of benchmark credit
derivatives.
``ABX'' credit-default swaps linked to 20 subprime securities
rated BBB- and created during the first half of 2007 traded for
the first time today at a mid-price of about 51.5, translating to
an annual cost for default protection of more than $1.9 million
per $10 million of bonds, according to Goldman Sachs Group Inc.
Read more at Bloomberg Bonds News
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