Der Vollständigkeit halber: ABX update - seitwärts (mTuB)

Hallo,

viele ABX haben sich heute mehr oder weniger seitwärts bewegt und zT neue ATLs gemacht.

Nur die 06er AAA Tranchen halten sich noch einigermaßen.

22-Jan-08 Overview
Index Series Version Coupon RED ID Price High Low
ABX-HE-AAA 07-2 7 2 76 0A08AHAD4 65.71 99.33 65.71
ABX-HE-AA 07-2 7 2 192 0A08AGAD6 36.14 97.00 34.67
ABX-HE-A 07-2 7 2 369 0A08AFAD8 25.22 81.94 23.97
ABX-HE-BBB 07-2 7 2 500 0A08AIAD2 18.00 56.61 17.44
ABX-HE-BBB- 07-2 7 2 500 0A08AOAD9 17.28 50.33 17.08
ABX-HE-AAA 07-1 7 1 9 0A08AHAC6 68.49 100.09 68.36
ABX-HE-AA 07-1 7 1 15 0A08AGAC8 36.46 100.09 36.46
ABX-HE-A 07-1 7 1 64 0A08AFAC0 19.81 100.01 19.67
ABX-HE-BBB 07-1 7 1 224 0A08AIAC4 13.20 98.35 13.20
ABX-HE-BBB- 07-1 7 1 389 0A08AOAC1 13.11 97.47 13.11
ABX-HE-AAA 06-2 6 2 11 0A08AHAB8 83.42 100.12 79.97
ABX-HE-AA 06-2 6 2 17 0A08AGAB0 55.24 100.12 51.47
ABX-HE-A 06-2 6 2 44 0A08AFAB2 28.89 100.12 28.89
ABX-HE-BBB 06-2 6 2 133 0A08AIAB6 14.58 100.59 14.58
ABX-HE-BBB- 06-2 6 2 242 0A08AOAB3 14.06 100.94 14.06
ABX-HE-AAA 06-1 6 1 18 0A08AHAA1 94.33 100.38 90.09
ABX-HE-AA 06-1 6 1 32 0A08AGAA9 82.46 100.73 77.58
ABX-HE-A 06-1 6 1 54 0A08AFAA7 54.36 100.51 47.11
ABX-HE-BBB 06-1 6 1 154 0A08AIAA4 26.29 101.20 25.00
ABX-HE-BBB- 06-1 6 1 267 0A08AOAA2 20.72 102.19 20.72

Tomo: 10 Mrd FNM Schrott zu 3.5%.

Gruß DT

http://www.counterpunch.com/martens01212008.html

$100 Billion and Counting
How Wall Street Blew Itself Up

By PAM MARTENS

The massive losses by big Wall Street firms, now topping those of the Great Depression in relative terms, have yet to be adequately explained. Wall Street power players are obfuscating and Congress is too embarrassed or frightened to ask, preferring to just throw money at the problem and hope it goes away. But as job losses and foreclosures mount and pensions and 401(k)s shrink, public policy measures to address the economic stresses require a full set of unembellished facts.

The proof that Wall Street is giving mainstream media a stage-managed version of what went wrong begins with a strange revelation by Gary Crittenden, CFO of Citigroup, on the November 5, 2007 conference call where he discusses what have now become the largest losses in the firm's 196-year history. Mr. Crittenden is asked by an analyst why the firm didn't hedge its risk. Here's his response:

"I mean I think it is a very fair question...we are the largest player in this [collateralized debt obligation; CDO] business and given that we are the largest player in the business, reducing the book by half and then putting on what at the time was three times more hedges than we had ever had at least in our recent history, seemed to be very aggressive actions given that we were a major manufacturer of this product...once this [decline in values] process started...the size was simply not there. The market is simply not there to do it in size in any way and it would have been uneconomic to do it."

What Mr. Crittenden really seems to be saying is that Wall Street, with Citigroup leading the pack, built a vast market of complex securities but neglected to put in place a liquid and efficient marketplace for hedging this risk. Say, for example, big, liquid, exchange traded indices and futures contracts that are routinely used to hedge everything from stocks to soy beans to crude oil by as diverse a group as Iowa farmers to Saudi princes.

In fact, the unabridged story is breathtaking in its callous disregard for the economic well being of this nation and its people. Exchange traded products did not emerge to hedge this risk because, behind the scenes, Citigroup, along with 12 other big banks and securities firms were funding a private company to gobble up all the necessary components to keep this burgeoning cash cow to themselves in the opaque, unregulated, over-the-counter (OTC) market, despite the fact that they knew it was dysfunctional.

The private company that would become Wall Street's ticker tape for pricing exotic credit instruments (derivatives on subprime mortgages and credit default swaps) started out as Mark-it Partners in 2001, the brain child of Lance Uggla while he was working for a division of Toronto Dominion Bank, TD Securities.
The official story goes like this: Mark-it Partners needed big broker dealers to submit daily price data. As an incentive, it offered 13 large security dealers options to buy shares in the company providing they would be regular providers of pricing data: ABN AMRO, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, TD Securities, UBS. By 2004, according to an archived company press release, all of the companies had kicked in capital. The Financial Times would later report that these banks and brokerage firms held a majority interest of approximately 67%, hedge funds owned 13%, and employees 20%. The firm's web site currently says it has 16 banks as shareholders, without naming the banks.

Deutsche Bank, Goldman Sachs and JPMorgan were reportedly ...

Bitte oben anklicken zum Selberlesen.

Viel Spaß,

DT