CNNMoney.com- UBS may have sold a portfolio of Alt-A securities worth 25 billion Swiss francs ($24.1 billion), according to an analyst at J.P. Morgan.
UBS was "highly likely" to have sold the securities in a fire sale, according to J.P. Morgan analyst Kian Abouhossein, noting press speculation on the subject.
"We see the speculated level of 70 cents on the dollar as realistic in a fire sale," he said in a note to clients on Thursday, adding the current market price is probably 84 cents on the dollar.
His note came amid published reports that UBS sold its entire portfolio to Pimco, the bond-house giant of German insurer Allianz.
