Prelim
Recovery: 32.375 with $77m to buy
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- The International Role of the Euro
- Chronicle of Currency Collapses: Re-Examining the Effects on Output
- The Paradox of Toil
- Links
- What the Fed Did and Why
- Markets and Government Before, During and After the 2007-20xx Crisis
- Detecting and Interpreting Financial Stress in the Euro Area
- Are We Building the Foundations for the Next Crisis Already? The Case of Central Clearing
- Links
- Links
- OIS Discounting
- Multimarket Trading and the Cost of Debt: Evidence from Global Bonds
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- DTCC Posts CDS Market Activity Snapshot
- ECB: Financial Stability Review (June 2010)
- Global CDO Issuance by Transaction Structure
- Links
- TBAC Minutes: Sovereign CDS and Swap Spreads
- Goldman Sachs Underwriting Market Shares in Subprime RMBS and CDOs
- Abacus for Dummies
- The World’s Safest and Riskiest Sovereign Debt (Update)
- Increased Sovereign Risk Behind Negative Swap Spreads
- Haircuts
- Markets, Religion, Community Size, and the Evolution of Fairness and Punishment
- Beyond the Dollar: Rethinking the International Monetary System
- Links
- Amazing Discovery
- ABCP Outstanding: Still Crashing
- Greek Government Bond Market
- Links
- Sterling Today
the other way around, from the auction primer:
“Protection sellers would make requests to buy bonds/loans in the auction (as normally they would be delivered bonds/loans in physical settlement).”
$77m to buy implies the market was net short the credit (i.e. long protection)? Or is it the other way around? Sorry, just wanted to clarify who pays who…
Final price of 31.375 after a preliminary 32.375 with $77m to buy (1/3 of total buy physical requests)?
Weird.
Limit offers were all over the map (gotta love MS’s limit offer of 99). Strange auction all around.
EC