Leading Derivatives Index Hits Record Lows.

The article reports that investors became more cautious about the prospects of bond insurers and financial institutions, driven by evidence that the subprime mortgage problems in the U.S. are worsening. Reports about the worsening of the subprime mortgage business pushed the riskiest, BBB-minus portion of the Asset Backed Securities (ABX) index based on mortgages made in the second half of 2006 to record lows.