ABX.HE May See First Implied Write-Down

The first implied write-down for a bond in the ABX.HE index may occur over the next few months as losses eat through the subordinate classes and endanger the AAAs.

  • 03 Sep 2009

--Olivia Thetgyi

The first implied write-down for a bond in the ABX.HE index may occur over the next few months as losses eat through the subordinate classes and endanger the AAAs. Implied write-downs are a mechanism for the swaps to recognize losses in the bonds, even if the cash ...

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