A Great Achievement in Central Banking (II) | 120 comments (120 topical, 0 editorial, 0 hidden)

Re: Well, it looks like... (none / 1)

I don't really understand the article.The Bundeabnk is intervening in the repo marjet by not intervening?

That point, though, semms to be easy to prove aor disprove:

>That, alongside the fact that the Bundesbank is retaining an ever greater share of bonds from auction, suggests only one thing to the logical mind.>

My empirical mind would just look up if the "ever greater share of bonds from action" is actually true prior to this action.

by IM on Wed Nov 23rd, 2011 at 09:57:55 AM EST
[ Parent ]

Re: Well, it looks like... (4.00 / 4)

Here are all the auction results this year:

http://www.deutsche-finanzagentur.de/fileadmin/Material_Deutsche_Finanzagentur/PDF/Aktuelle_Informat ionen/Auktionsergebnisse_E.pdf

The last auction of 10 year bunds was October 19th and 925 million out of 5,000 million € was retained. The first auction in 2011 was January fifth and 1084 million out of 5 billion was retained. So apart from this last auction there was no movement in the retained share.

And here is an explanation of seconderay markets finance activity.

http://www.deutsche-finanzagentur.de/en/institutional/secondary-market/secondary-market-activities-f inance-agency/

"The volume of securities retained for market operations varies widely from auction to auction. Since 2005, the amount retained has averaged about 20% of the issuance volume (which also included money market paper and inflation-linked German Government securities)."

by IM on Wed Nov 23rd, 2011 at 11:33:41 AM EST
[ Parent ]

A Great Achievement in Central Banking (II) | 120 comments (120 topical, 0 editorial, 0 hidden)

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