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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: MulhollandDrive who wrote (191904)3/19/2009 3:43:49 PM
From: Bridge PlayerRespond to of 306849
 
If the bid-to-cover ratio was actually 7.35, I don't care who the buyer was, the BOE on a REPO or investors buying at auction on a new issuance.

If the supply truly overwhelmed the demand on the BOE repo, then the bid-to-cover was significantly under 1.00.

Denniger can't have it both ways, describing a bid-to-cover of 7.35 as meaning a huge number of willing sellers swamping the demand.