Primary Dealer Banks Want Their Treasury Sales Franchise Protected

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Direct bidding means bypassing the 'percentage' that the moneyman banks take. The banks hate it. It not only dents their vigorish, but it makes it more combative in pricing the auction, which cuts into profits as well.Today's Ten Year Auction was a bit weak, with Direct Bidders downbound as a percentage.I hit heard that more firms that are not PIMCO collection in size are hunt to embellish Direct Bidders be Sure you bookmark this page. Thanks...
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