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| User Info | What am I missing about ABX ?; entered at 2007-12-02 08:16:11 | |||
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Yal Posts: 3544 Registered: 2007-06-27 
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Gigi, I agree that the situation is dire but I still claim one thing: ABX now represent sentiment and FEAR of the unknown number of defaults that is ahead. If you freeze rates to people who until now paid the teaser rate (and thus most of them can still continue to pay it) this fear will go down considerably because much of the ("what will occur when rate reset") unknown is now removed. in other words: ABX are projections. Have they now reached the worst possible scenario - maybe maybe close. If Paulson trick remove volatilty in a price of known magnitude of losses - this allow a market to function again. right now it does not function at all. Last modified: 2007-12-02 08:18:01 by yal
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