The ABX.07-2 index began trading last Thursday, but after a fresh spate of bad news about the subprime mortgage market forced the market into a general slowdown, and with a typical summer Friday looming, the index was not expected to see much action for the week.

It also did not help matters that the new index is very similar in credit quality to the 07-1. Some market professionals, however, did note that the latest index had a better bid than its predecessor.

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