Lisa
Guest
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 Posted: Wed Mar 07, 2007 11:32 pm Post subject: Cost of Insuring All Types of Mortgage-Backed Securities Ris |
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I think the Chinese should take note, since they've bought so many of
our mortgage-backed securities. From today's Wall Street Journal:
HOME LENDING JITTERS HIT COMMERCIAL SECTOR
By Ryan Chittum and Serena Ng
Turmoil in the market for bonds backed by home mortgages is starting
to infect its commercial cousins: mortgage bonds backed by office
towers, hotels and shopping malls.
The cost of insuring commercial-mortgage-backed securities as
measured by an index known as the CMBX has jumped since late last
month. The spread on the index that tracks riskier, BBB-minus-rated
bonds has doubled to 1.64 percentage points this week from .84
percentage points on Feb. 23, according to Markit Group, which
administer the index.
"Moves of this magnitude and speed are uncommon in the unusually calm
CMBS markets," noted analysts from Lehman Brothers in a report this
week.... |
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