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Worst TSLF of all Times

Something is UP…last week I mentioned the poor TSLF auction for schedule 2 collateral as the worst since april 24th. Today’s auction was the worst of all times for schedule 1. No danger of that prop going away any time soon.
bid cover 2.07
details here.

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Posted by jck at 3:24 pm EST on July 24th, 2008 |

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2 Responses to “ Worst TSLF of all Times ”

  • # 1 CarltonBanks Says:
    July 28th, 2008 at 10:16 am

    Even though the Bid-to-Cover increases, doesn’t the lower stop out rate somewhat offset the negative implications of the higher bid-to-cover?

    Thanks

  • # 2 jck Says:
    July 28th, 2008 at 12:05 pm

    Not really, the stop-out rate was at .1200 and the minimum is 0.1000 [for schedule 1 collateral] and that was the highest since april 3rd [.1600]

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