PrimeX Selling Accelerates

Tyler Durden's picture

Update: Jeff Gundlach just said on his conference call that PrimeX is 6-8 points overvalued vis a vis the cash prime-backed RMBS

It only took a little over an hour...

FROM 10AM SURVEY
PrimeX.FRM.1  Mid 104-240:  103 OR 106-16
PrimeX.FRM.2  Mid 94-080:   92-16 OR 96-00
PrimeX.ARM.1  Mid 100-08:   98-16 OR 102-00
PrimeX.ARM.2  Mid 89-24:    88-00 OR 91-16

MS PrimeX Markets               

                       Cpn    Bid        Offer   Chg from Close  Factor               
PrimeX.FRM.1   442    102-16 / 103-16      -1-120        0.47               
PrimeX.FRM.2   458    92-08  / 93-08       -1-286         0.49               
PrimeX.ARM.1   442    98-16  / 99-16       -1-143         0.41               
PrimeX.ARM.2   458    87-16  / 88-16       -2-072         0.44