It Is Interesting

日期:2012/08/08

It is interesting to see that before the 10 year auction results are announced at GM 1300, there is hardly any volume whatsoever on the bid or asked in 30 year bonds. I saw bids of a total of 30 bonds and offers of a total of30 bonds before the results announced 3 ticks on either side. Normally the bonds trade 350000 futures contracts a day and there are bids and offers of 1000 each within the 3 point range. What this means is that the market at least for fixed income is almost entirely professional. There are no amateurs who leave their bids and offers in to be taken when the market makes a move of an average of 16 ticks on the auction. Hats off.