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CDS of ABS: The Future is Now

CDS of ABS: The Future is Now. Moderator: Michael Swenson, Goldman Sachs Panelists: Zain Abdullah, Calyon Josh Anderson, Pimco Michael Knopf, MBIA Nunzio Masone, Alladin Capital Management Scott Eichel, Bear Stearns.

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CDS of ABS: The Future is Now

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  1. CDS of ABS: The Future is Now

  2. Moderator:Michael Swenson, Goldman SachsPanelists:Zain Abdullah, Calyon Josh Anderson, PimcoMichael Knopf, MBIANunzio Masone, Alladin Capital ManagementScott Eichel, Bear Stearns

  3. Audience Makeup:Are you:A) Money ManagerB) Insurance Co. C) Hedge FundD) Issuer/OriginatorE) Broker/DealerF) MonolineG) Other

  4. Audience Makeup:My current involvement in CDS could be described as follows:a. Have already transacted in ABS CDSb. Have not transacted in ABS CDS, but am considering itc. Will probably not transact in ABS CDS

  5. Who have been the primary users of ABS CDS to date?

  6. How have the monolines been involved in this market?

  7. How have ABS CDS been used by CDO managers?

  8. What is the cash-CDS basis and what has it been doing?Have CDS spreads lead cash spreads or vice versa? How have market technicals been impacted by the growth of this market?

  9. How are the ABX indices constructed?

  10. Comment on the first week of trading activity on the ABX indices.

  11. What trades do we expect to occur with regard to the ABX index?

  12. What have been the primary issues the buy side has had to address prior to participating in the ABS CDS or ABX market?

  13. What is your outlook on housing and subprime spreads?

  14. Audience Survey:What is your outlook on housing for 2006?A) Prices up 10% or moreB) Prices up 0 to 10% C) Prices FlatD) Prices down 0 to 10%E) Prices down 10% or more

  15. Audience Survey:What is your outlook on subprime spreads for 2006?A) spreads tighterB) spreads flatC) spreads wider

  16. What is the outlook for structured products CDS?

  17. Questions from the Audience

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