Jeff Kiburtz

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Thu Feb 14th 08:36 AM | Rating: 0 0
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Time to Buy Risk?

Interesting post, but it seems to me that rates alone cannot be an accurate indicator of credit conditions -- volume is also important.

Although rates should, in theory, reflect overall credit conditions, that appears not always to be the case. For example, a straight-across comparison of mortgage rates in June 2007 versus mortgage rates in January 2008 (generally higher then versus now) would indicate that mortgage credit conditions are more lax now. That is something which conventional wisdom -- supported by the relative volume of mortgage debt being originated then versus now -- suggests is not the case.

Do you have any data on the relative volume of corporate credit issued in June 2007 versus that issued in January 2008?

Thanks.
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