Yield earned 收益
$
0
M
Tranches pulled 已抽层级
0
Market stability 市场稳定性
100%
Ratings & yield 评级与收益
AAA
$10M
AA
$25M
A
$50M
BBB
$100M
BB
$200M
B
$400M
Click a block to pull it —
the lower, the riskier, the richer.
越往下越危险,也越赚 · drag to orbit
JENGA
:
The Mortgage Bond Game
每根积木是债券的一个层级(tranche)。抽走它=买入它的收益。塔=美国房贷市场。
The tower
— the mortgage bond market 房贷市场
One block
— one tranche 一个层级
Pulling a block
— taking its yield 买入收益
Lower blocks
— subprime: pays 40×, holds the tower up 次贷:收益40倍,但撑着整座塔
Open the Market ▶
MARKET CRASH
“A’s zero. B’s zero. — That’s America’s housing market.”
$
0
M
Final yield
0
Tranches pulled
0
Subprime pulled
Bail out & restart ↻