Three months ago, when the concern that subprime losses would spill over into other markets was making headlines, I examined the issue through the lens of the emerging world. I saw sporadic puffs of smoke, but no fire. EM ABS was unruffled.

Now that subprime anxiety has rekindled - and left Bear Stearns badly scorched - I figured it's worth another visit.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.