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IDS World Markets Thurs 6th December 07


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Much ado about nothing. The deal will fall apart within days. It's unenforceable, will result in additional writedowns, trigger countless lawsuits, and the simple announcement of this deal will reduce the mortgage market to a shambles. The secondary mortgage market will cease to function. How do you price this stuff if the government can force a change of terms at will?

630515[/snapback]

 

 

How do you undo the deal? :unsure:

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more playdough

 

DJ Fed Accepts $4 Bln In 14-Day RPs

 

Type of transaction: 14-Day RPs

Total accepted: $4 Bln

Total submitted: $59.55 Bln

 

Agency Collateral Operation

Total accepted: $250 Mln

Total submitted: $23.75 Bln

Stop-Out Rate: 4.5%

Weighted Average: 4.5%

High-rate submitted: 4.5%

Low-rate submitted: 4.15%

 

Treasury Collateral Operation

Total accepted: $3.45 Bln

Total submitted: $9.85 Bln

Stop-Out Rate: 3.9%

Weighted Average: 3.98%

High-rate submitted: 4.15%

Low-rate submitted: 3.3%

 

Mortgage-Backed Collateral Operations

Total accepted: $300 Mln

Total submitted: $25.95 Bln

Stop-Out Rate: 4.55%

Weighted Average: 4.55%

High-rate submitted: 4.55%

Low-rate submitted: 4.3%

 

 

DJ Fed Accepts $8.25 Bln In Overnight RPs

 

Type of transaction: Overnight RPs

Total accepted: $8.25 Bln

Total submitted: $40.7 Bln

 

Agency Collateral Operation

Total accepted: $2.9 Bln

Total submitted: $17.25 Bln

Stop-Out Rate: 4.57%

Weighted Average: 4.58%

High-rate submitted: 4.58%

Low-rate submitted: 4.5%

 

Treasury Collateral Operation

Total accepted: $5.35 Bln

Total submitted: $20.6 Bln

Stop-Out Rate: 4.4%

Weighted Average: 4.43%

High-rate submitted: 4.43%

Low-rate submitted: 4.25%

 

Mortgage-Backed Collateral Operations

Total accepted: None

Total submitted: $2.85 Bln

Stop-Out Rate: N/A

Weighted Average: N/A

High-rate submitted: 4.6%

Low-rate submitted: 4.55%

 

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

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