sell Mortimer sell
Anybody else short US 30 Bond
- Thread starter richard_m
- Start date
According to this about the 10 year action:
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/A_20101007_2.pdf
Noncompetitive Closing Time 12:00 Noon ET
Competitive Closing Time 1:00 p.m. ET
Is there advantage to know the Noncompetitive bid at 12:00 ET?
When do the bids start coming? Is there leakage of information during the time the bid is open?
This is the result f the last one:
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/R_20100908_3.pdf
Can you help me understand the insignificance of:
Primary Dealer
Direct Bidder
Indirect Bidder
Primary dealers as submitters bidding for their own house accounts.
Non-Primary dealer submitters bidding for their own house accounts
Customers placing competitive bids through a direct submitter, including
that yield. Foreign and International Monetary Authorities placing bids through the Federal Reserve Bank of New York.
Which of the above one wants to see more of, in a good result action?
Also the meaning of the term bid to cover.
Thanks for your help.
P.S. I found this for bid to cover:
the bid-to-cover ratio involves the number of bids that are accepted for the auction divided into the number of bids that were properly submitted in relation to the auction
The ratio is considered to be an accurate gauge of the current level of desirability for the issue involved in the auction. A high bid-to-cover ratio indicates that the level of investor desire for the issue is very high, and that there is every chance that another similar auction would result in excellent returns. By contrast, a bid-to-cover ratio that is somewhat low is a strong indicator that current market conditions have limited the enthusiasm for the issue, and that engaging in a similar auction in the short term is probably not advisable.
Do I divide the Tendered by the Accepted amount to get the bid to cover from the action results report?
Also found this:
http://www.treasurydirect.gov/instit/auctfund/work/work.htm
it explains some of my questions above.
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/A_20101007_2.pdf
Noncompetitive Closing Time 12:00 Noon ET
Competitive Closing Time 1:00 p.m. ET
Is there advantage to know the Noncompetitive bid at 12:00 ET?
When do the bids start coming? Is there leakage of information during the time the bid is open?
This is the result f the last one:
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/R_20100908_3.pdf
Can you help me understand the insignificance of:
Primary Dealer
Direct Bidder
Indirect Bidder
Primary dealers as submitters bidding for their own house accounts.
Non-Primary dealer submitters bidding for their own house accounts
Customers placing competitive bids through a direct submitter, including
that yield. Foreign and International Monetary Authorities placing bids through the Federal Reserve Bank of New York.
Which of the above one wants to see more of, in a good result action?
Also the meaning of the term bid to cover.
Thanks for your help.
P.S. I found this for bid to cover:
the bid-to-cover ratio involves the number of bids that are accepted for the auction divided into the number of bids that were properly submitted in relation to the auction
The ratio is considered to be an accurate gauge of the current level of desirability for the issue involved in the auction. A high bid-to-cover ratio indicates that the level of investor desire for the issue is very high, and that there is every chance that another similar auction would result in excellent returns. By contrast, a bid-to-cover ratio that is somewhat low is a strong indicator that current market conditions have limited the enthusiasm for the issue, and that engaging in a similar auction in the short term is probably not advisable.
Do I divide the Tendered by the Accepted amount to get the bid to cover from the action results report?
Also found this:
http://www.treasurydirect.gov/instit/auctfund/work/work.htm
it explains some of my questions above.
still short?!!!!!
don't be like Richard M the starter of this thread he losts his shorts in the ocean...
1) No
2) Whenever; there is no leakage
3) You want to see directs and indirects
4) Yes, but b/c is not really that useful... The key result that you should be looking at is the yield tail. In my experience, it's the only indicator of the auction performance. Of course, to understand it properly you'll need to watch the concession going into the auction.
Nah, just the differential between where the When-Issued (or the actual bond) trades going into the auction and the auction yield.