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IDS World Markets Fri 19th October 07


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DJ Fed Accepts $3.25 Bln In 3-Day RPs

 

Type of transaction: 3-Day RPs

Total accepted: $3.25 Bln

Total submitted: $56.3 Bln

 

Agency Collateral Operation

Total accepted: $3.05 Bln

Total submitted: $24.7 Bln

Stop-Out Rate: 4.75%

Weighted Average: 4.76%

High-rate submitted: 4.76%

Low-rate submitted: 4.5%

 

Treasury Collateral Operation

Total accepted: $200 Mln

Total submitted: $15 Bln

Stop-Out Rate: 4.65%

Weighted Average: 4.65%

High-rate submitted: 4.65%

Low-rate submitted: 4.5%

 

Mortgage-Backed Collateral Operations

Total accepted: None

Total submitted: $16.6 Bln

Stop-Out Rate: N/A

Weighted Average: N/A

High-rate submitted: 4.79%

Low-rate submitted: 4.76%

 

(Data was provided by the New York Federal Reserve Bank).

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I just called beardrech. He's ok, but his computer died.

 

He expects to have a new one next week and will be rejoining us when he will write something in David's memory, as only beardrech can in his inimitable way.

616206[/snapback]

 

Speaking of missing persons....where's K Wave?

616219[/snapback]

 

I emailed him. Didn't get a response. Since he moved to Austin, I don't have his phone number.

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On this 20th Anniversary Day of the 1987 Crash, they'll blame it all on program trading again.

 

It's a pity that Wall Street hasn't upgraded their hardware from the 8086's and Commadore 64's they had back then. Maybe they could avoid these little glitches and collars if they'd upgrade to Windows 95.

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Say it ain't so. :lol:

 

HSBC Is Sued

Over Valuation

Of Fund's Bonds

By CARRICK MOLLENKAMP and IAN MCDONALD

October 19, 2007; Page C2

 

A U.S. real-estate fund has sued HSBC Holdings PLC, alleging that the British bank's U.S. mortgage-trading operations took advantage of the crisis to profit at the expense of the fund.

 

In the lawsuit, Luminent Mortgage Capital Inc., a San Francisco firm that invests in residential-mortgage securities, claims that HSBC's New York office placed an improperly low valuation on nine subprime-mortgage bonds, which the fund's subsidiaries had put up as collateral for loans. According to the complaint, HSBC bought the bonds at a deep discount to their fair value, in at least one case employing an auction that included only one other bidder.

 

http://online.wsj.com/article/SB119274436361164003.html

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