(Reuters) - NEW YORK, June 20 - The ABX derivatives index
dropped to a record low on Wednesday amid continuing concerns
about a hedge fund facing potential losses due to its holdings
of risky subprime mortgages, traders said.
The ABX 2007-1 "BBB-minus" index, which references home
loans made to risky borrowers in the second half of last year,
dropped to 59.25 compared to 60.39 on Tuesday, according to one
trader.
Read more at Reuters.com Bonds News
dropped to a record low on Wednesday amid continuing concerns
about a hedge fund facing potential losses due to its holdings
of risky subprime mortgages, traders said.
The ABX 2007-1 "BBB-minus" index, which references home
loans made to risky borrowers in the second half of last year,
dropped to 59.25 compared to 60.39 on Tuesday, according to one
trader.
Read more at Reuters.com Bonds News
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