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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5315)12/20/2001 8:51:09 AM
From: Henry Volquardsen  Respond to of 33421
 
thats reall inside baseball stuff.

my own attitude was that I never really give a damn what the benchmark is as long as its liquid and agreed on in advance.

btw having dealt with shifting benchmarks in Japan, Canada, Britain etc this stuff is all old hat. If these guys are getting worked up about it in the US market they should have tried dealing with Italian lira bond auctions and benchmarks back in the 80s. Wimps ;-)



To: John Pitera who wrote (5315)12/25/2001 8:51:40 PM
From: Oblomov  Read Replies (1) | Respond to of 33421
 
JP, why does there need to be a "benchmark"? Why can't different IB firms use different benchmarks? Then, a potential bond issuer could shop for the best deal, and the market would effectively set the yield of the debt.


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