Widely Held Offerings

March 23, 2011

Why this is good for the Buy Side: There is a saying in the Bond Market, “There are no bad bonds, just bad prices.” This report enables you to easily find bonds owned by more than one dealer, and will improve your bargaining position by moving the supply/demand equation in your favor.

Why this is good for the Sell Side: If I am offering the same bond as multiple other dealers, I want to know. For example, G2 82714 (GN 5/1 ARM) has been offered by seven dealers anywhere from 105z to 110z. I better make sure I’m not the 105Z offer so I look competitive. Conversely, if I am bullish on GN ARMs I need to make sure I am not the 110Z offer, lest I get lifted at the cheapest level of the day.