Monday, April 6, 2009

So...

Last month was quite a month (apparently). After FASB changes to mark-to-market rules and the Geithner public partnership plan, you would expect at least a nice rebound in "legacy" (aka toxic) assets. Not so fast:

http://www.markit.com/cache/curves/d2f68bf1d8c1ad521106aa9a671.png
http://www.markit.com/cache/curves/ebe08df924e2bf32a56e63eb33e.png


These are indexes designed to track the prices for non-agency residential mortgage-backed securities. Apparently, the stock market did not pay attention.