by Calculated Risk on 7/17/2007 03:05:00 PM

From Dow Jones: Credit Markets Brace For Expected Bear Hedge Fund Disclosure (hat tip Yal)

Credit markets braced Tuesday afternoon for an expected disclosure of valuations later in the afternoon from two Bear Stearns Cos. (BSC) hedge funds that nearly collapsed in June.

Investors in the two funds, which invested heavily in complex collateralized debt obligations with exposure to the subprime mortgage market, are expected to recover a minimal amount, if anything at all, of their stakes, according to market participants.

A conference call for investors is scheduled for 4 p.m, these participants said.