Ander's Market Theories

[AnderL]

Lehman CDS auction obligations are due today, from last weeks auction. WAMU auction starts tomorrow. Not sure when bidders have to come up with the cash for that one yet. I expect it might be 10 days.

Since it is still mark to market the LEH auction did not get us out of the woods. When the bids are in for WAMU CDSs it will reprice them again. Hopefully the Fed funded the banks enough to get them to bid them up.