One-way fear

ABX Index

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Until new issuance of residential mortgage-backed securities evaporated in the second half of 2007, the ABX.HE - provided by London-based data vendor Markit - had been the market's primary tool for arriving at prices for structured portfolios of subprime assets. However, the lack of new asset-backed securities (ABS) issuance has brought new rolls of the index to a standstill - and has prompted some to question whether there is a need for another series of the index at all.

The ABX.HE is a synthe

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