U.S. Subprime CDS prices more than doubled their increase from the previous month, rising 1.7% overall. According to the latest Fitch Solutions report, this brings the subprime rally to its unprecedented seventh consecutive month.
However, not all vintages enjoyed the same success last month. While the 2007 vintage price rose 4.9% and the 2004 vintage increased by 84 basis points, the 2006 vintage suffered another decrease of -8.4%. After February’s drop of -11.3%, this is its second largest decline of the year.