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- Auction
- a sale of goods or property by competitive bidding on the spot, by mail, by telecommunications, or over the Internet
- Auction definition on BNET »
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- 30-Year Bond Auction: Sorry, Paulson, Not a Good Result
- John Jansen submits: The Treasury auctioned $10 billion Long Bonds and the result was a genuine debacle for the taxpayers. The issue in the jargon of trading rooms tailed 10 basis points. A tail is the number of basis points from where the issue was trading in the market...
- External links 2008-11-13
- More on the Bond Auction
- John Jansen submits: Yesterday I wrote a piece about the ignominious and ignoble conclusion of the quarterly refunding with the horrrific result of the 30 year bond auction. I noted that the “tail” cost the taxpayers $175,000,000 and that article has received modest circulation in the economic blogosphere.I just...
- External links 2008-11-14
- Bond Expert: Tuesday Wrap
- John Jansen submits: Prices of Treasury coupon securities surged today as persistent buying in the long end of the market sparked a rally across the curve. Money managers and pension fund players in need of duration waved in the 10 year sector and the 30 year sector. The yield...
- External links 2008-11-18
Additional Resources
- Today's Bond Auction: Remarkable Enthusiasm
- John Jansen submits: 12:47 p.m. ET: The Treasury in a scant 30 minutes will complete the March refunding cycle with an auction of $11 billion Long Bonds. The issue is cheap on the curve. It lags 10s, 5s , and bond contracts. by John Jansen
- External links 2009-03-12
- Fed Manipulation: Adding to the Bloggers' Case
- A week ago a great debate was stirred in the financial blog world. As is often the case, Zero Hedge was in the middle of the fracas. Mr. Durden penned a piece that suggested that the Fed was manipulating the auctions in such a way as to benefit the primary...
- External links 2009-08-14
- Bond Expert: Monday Wrap
- John Jansen submits: Prices of Treasury coupon securities sagged today in a lackluster trading session. The 20 year TIPS auction dominated trading in the afternoon. The Treasury auctioned $8 billion 20 year TIPS at 100PM new York time. The sale met a less than enthusiastic reception from investors...
- External links 2009-01-26
- Bond Expert: Wednesday Wrap
- John Jansen submits: Prices of Treasury coupon securities tumbled today as Hank Paulson and his subalterns began the real world process of distributing securities to end users. The Treasury sold $17 billion new 10 year notes today at a yield of 4.075 percent. That stop out level was fully...
- External links 2008-08-06
- Bond Expert: Thursday Wrap
- John Jansen submits: Prices of Treasury coupon securities have surged following a blockbuster 30 year bond auction which capped a very successful troika of auctions. The taxpaying public has some reason for elation as in each instance the auction stopped rich to market levels. The dealer community has reason...
- External links 2009-09-10
- Bond Expert: Thursday Wrap
- John Jansen submits: Prices of Treasury coupon securities have taken a rather traumatic tumble this day as Tim Geithner conducted a 30 year bond auction and the invited guests failed to show up for the party. As I related in an earlier post the auction was a debacle and...
- External links 2009-05-07
- Bond Expert Thursday Wrap: Things Got Ugly
- John Jansen submits: Prices of Treasury coupon securities took an ugly turn today as a less than enthusiastic bidding resulted in a sloppy 30 year bond auction. Trading was less than professional as in the hours prior to the auction the WI bond passed most of the...
- External links 2009-10-08
- Bond Expert: Wednesday Outlook
- John Jansen submits: Prices of Treasury coupon securities have sagged modestly in overseas trading. The market has deteriorated under the combined weight of surging equity markets sapping demand for risk averse assets and the anticipation of an auction of $19 billion 10 year notes today. For good measure there...
- External links 2009-06-10
- Bond Expert: Wednesday Wrap
- John Jansen submits: Prices of Treasury coupon securities are posting modest gains today but have done so in the face of a supply onslaught from Hank Paulson and his minions. The uptick in prices also comes in the face of a stronger than expected durable goods report this morning.The...
- External links 2008-08-27
- Bond Expert: Wednesday Wrap
- John Jansen submits: Prices of Treasury coupon securities slumped today in a volatile trading session in which the auction of 5 year notes by the Treasury and the statement by the FOMC at the conclusion of its conclave dominated. As I discussed earlier, the 5 year note...
- External links 2009-06-24
- Bond Expert: Wednesday Outlook
- John Jansen submits: Prices of Treasury coupon securities, on balance, have registered minimal losses in a lackadaisical overnight session with little in the way of high profile news. The yield on the benchmark 2 year note edged higher by a basis point to 2.33 percent. The yield on the...
- External links 2008-08-27
- Bond Expert: Thursday Outlook
- John Jansen submits: Prices of Treasury coupon securities have slipped in overnight trading in advance of an auction of $22 billion 5 year notes later today. Weakness in the bund market also elicited some sympathetic selling of Treasuries. The yield on the 2 year note has climbed 2...
- External links 2008-08-28
- TIPS Disappointment
- John Jansen submits: An hour ago I wrote, In a few moments the Federal Reserve will buy TIPS. The breakeven spread on the 10 year is 136 currently which is 5 basis points richer than the late close yesterday. The 130/131 level is the level to which the recent...
- External links 2009-04-16
- Bond Expert: Wednesday Wrap
- John Jansen submits: Prices of treasury coupon securities have dropped sharply following the release of the statement by the FOMC following the conclusion of its meeting. There was nothing in the statement which precipitated the drop in bond prices. In my opinion, prices fell as the street contemplates the...
- External links 2008-08-05
- Bond Expert: Thursday Wrap
- John Jansen submits: Prices of Treasury coupon securities posted mixed results today in a lackluster pre holiday session. Economic data, the month-end extension and a 5 year note auction punctuated the lack of activity.The GDP revision to 3.3 percent from 1.9 percent was significantly greater than expected and was...
- External links 2008-08-28
- Bond Expert: Thursday Outlook
- John Jansen submits: Prices of Treasury coupon securities surges in overseas trading as fears of economic contraction and credit concerns dominate trading. The yield on the benchmark 2 year note has slipped 5 basis points to 2.15 percent. The yield on the benchmark 5 year note has declined 6...
- External links 2008-09-11
- Bond Expert: Friday Outlook
- John Jansen submits: Prices of Treasury coupon securities have rebounded from the calamitous levels attained following the release of the results of the disastrous 30 year bond auction. In overnight trading, the yield on the 2 year note has slipped 2 basis points to 1.22 percent. The yield...
- External links 2008-11-14
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