Macro Funds Prop Up Spreads Through Short Covering

13 Sep 2007

Synthetic asset-backed securities spreads firmed up last week as some hedge funds started returning to the market to cover shorts.

Synthetic asset-backed securities spreads firmed up last week as some hedge funds started returning to the market to cover shorts. After the sharp sell-off in ABX AAA, AA, and A sub-indices in August, senior index tranches have started to rally because some macro hedge funds that have shorted ...

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