by Calculated Risk on 6/15/2007 05:47:00 PM

From Bloomberg: Perceived Subprime-Mortgage Risk Surges After New Bond Sale

The perceived risk of owning low-rated subprime-mortgage bonds surged on speculation that a block of about $700 million of bonds from so-called collateralized debt obligations was put up for sale.
...
An index of credit-default swaps linked to 20 subprime-mortgage bonds with the lowest investment-grade rating and created in the second half of 2006 fell about 1.5 percent to a record low of 60.95 today, according to administrator Markit Group Ltd. The ABX-HE-BBB- 07-1 index is down 11 percent this month, suggesting that concern about defaults is increasing.
...
Another ABX index linked to 20 similar securities from the first half of 2006 plunged 1.5 percent today and is down 7.6 percent this month.

No link yet, but the above article was from this afternon (hat tip Brian). This may seem like a broken record - from 3 days ago: Subprime-Loan Risk Reaches Record

The perceived risk of owning low- rated subprime-mortgage bonds created in the second half of 2006 rose to a record as loan delinquencies and mortgage rates climb, according to an index of credit derivatives.

An index of credit-default swaps linked to 20 bonds rated BBB- fell 2.9 percent to 62.12, according to Markit Group Ltd. The ABX-HE-BBB- 07-1 index's previous low of 62.25 came on Feb. 27.

I guess some records are made to be broken.