June remittance reports released Monday reflected a negative trajectory for ABX 06-2 and 07-1 indices that are backed by 2006 collateral - which was expected. Specifically, deals in 07-1 continued to underperform. The referenced transactions for that index have been performing worse versus those for ABX 06-1 and 06-2, and the June data clearly reflected that trend, Street analysts said.
Early Monday, the ABX traded weaker based on early postings, according to a report from Wachovia Securities. Later in the day, "the tone was mixed and volume was light," analysts said. The indices finished the day down.