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CMBXCommercial Mortgage Backed Securities Index
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The CMBX Licensed Dealer Group includes the following: Bank of America; Barclays; Bear Stearns; Citi; Credit Suisse; Deutsche Bank; Goldman Sachs; JPMorgan; Lehman Brothers; Merrill Lynch; Morgan Stanley; Nomura International; RBS Greenwich Capital; UBS; and Wachovia.
The Markit CMBX is a synthetic family of indices based on U.
Markit is the administration, calculation, and marketing agent for CMBX, and is the central source of information about the index.
Obviously, in the case of CMBX, the majority of charge was distributed within the inner part of the film, whereas in the case of, CMOX much more in the (10 nm) surface layer.
CMBX tranches rated "A" and above are particularly undervalued from a credit performance perspective, noted the report.
Overall, CMBX prices rallied approximately 5 to 15 points during September.
TriOptima's CDS compression cycles include American, European, Emerging Market, Asian and Japanese indices; ABX and CMBX indices; American and European tranches; US, European, Emerging Market, Japanese, and Asian single name CDS; and special cycles for single names and indices affected by credit events like Washington Mutual, Fannie Mae, Freddie Mac, Lehman and the Icelandic banks.
Over the course of the quarter, CMBS bonds generally outperformed the CMBX indices, and in response we sold certain CMBS bonds while continuing to add CMBS "B-pieces.
In addition, within its overall investment portfolio, the company does not have any exposure to the two commercial mortgages within CMBX 5 that have been widely reported in the national media as likely to default.
It analyzed all 19,583 commercial mortgage loans in the 675 CMBS bonds that make up the four CMBX indices, which account for approximately 39% of fixed rate conduit CMBS outstanding.
The company is providing this information in light of the increasing volatility in the CMBS indices (CMBX), which is due to a number of factors, including two commercial mortgages within CMBX 5 that have been reported as likely to default.
IDX Launches New Desks and is First Inter-Dealer Broker to Offer ABX and CMBX Products to the Credit Derivatives Marketplace