| Subject: Those are called BONDS, asshole. Got Any???? |
Author:
Anonymous
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Date Posted: 04:04:46 10/13/01 Sat
In reply to:
's message, "Madame knows more than y'all (FROM KEVIN)" on 13:43:27 10/12/01 Fri
>>And I have been asking everywhere I could.
>
>You obviously have nobody in your circle that knows
>anything.
>
>Now it is even in the news. This is the first time I
>have seen any reference to private debt trading in
>public media:
>
>
>Thursday October 11, 5:16 pm Eastern Time
>US Treasury encouraged by failed trades progress
>(UPDATE: adds details, paragraph 5 to end; byline)
>
>By Jonathan Nicholson
>
>WASHINGTON, Oct 11 (Reuters) - A U.S. Treasury
>Department official said on Thursday Treasury was
>``encouraged'' by progress made in cleaning up
>uncompleted debt trades in the wake of the Sept. 11
>attacks on New York City and Washington, hinting the
>department does not plan to auction five-year notes as
>a way to ease market pressures.
>
>
>``Treasury continues to closely monitor the progress
>in clearing up the fails associated with transactions
>of specific Treasury securities,'' a Treasury official
>said in response to questions from reporters.
>
>``The reopening last Thursday of the .. 10-year notes
>had a contributing positive effect and we're
>encouraged by the market's continuing work in
>resolving this issue,'' the official, who spoke on
>condition of anonymity, said.
>
>Last week, Treasury sold $6 billion in 10-year notes
>in a snap auction announced Thursday morning and
>completed the same afternoon. The surprise sale was
>meant to lessen pressures in the repurchase market for
>Treasury debt, where government securities are
>temporarily borrowed and loaned. Treasury said then it
>was considering a similar sale of five-year notes this
>week.
>
>The official declined to discuss Treasury's auction
>plans. That will likely dampen expectations of a
>five-year note sale, as market participants had
>expected any announcement of a sale to occur on
>Thursday.
>
>In announcing the 10-year note auction last week,
>Peter Fisher, Treasury under secretary for domestic
>finance, said the number of incomplete trades, or
>``fails,'' had risen sharply in the wake of the
>attacks that leveled the World Trade Center and
>shuttered full U.S. stock and bond trading for several
>days.
>
>As a result of the increased fails, some major holders
>of some Treasury securities were more reluctant to
>lend them in the market.
>
>However, in recent days, the fails problem has
>apparently eased somewhat and deciding to hold another
>auction could have raised other issues.
>
>Treasury had been scheduled to sell five-year notes at
>its series of quarterly refunding auctions in November
>and some analysts had worried that an early sale would
>likely mean Treasury would be forced to reduce the
>size of that auction.
>
>Also, by selling additional securities to ease market
>shortages, some analysts worried Treasury may be
>setting a worrisome precedent should future shortages
>occur.
>
>The official on Thursday said Treasury wanted to make
>sure it was able to leave its options open.
>
>``Treasury is always interested in maintaining its
>flexibility but we're pleased with the progress in the
>market thus far,'' the official said.
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