Bond Pricing
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Does anyone have recommendations on a good bond desk that has competitive pricing? I feel like I am getting abused on mark-ups.
I called 3 different providers on the same issue and got three different prices all of which were higher than prices I saw coming across my trace. I then spoke to a buddy at a wirehouse to see where they were offering the bond at and it beat all my providers by a almost a full point. This was a secondary offering btw.
Have you tried Larry's Bond Desk?Does anyone have recommendations on a good bond desk that has competitive pricing? I feel like I am getting abused on mark-ups.
I called 3 different providers on the same issue and got three different prices all of which were higher than prices I saw coming across my trace. I then spoke to a buddy at a wirehouse to see where they were offering the bond at and it beat all my providers by a almost a full point. This was a secondary offering btw.
Simply do a DVP at a fixed income dealer of your choice for the pricing you like. You can PM me if you need more details. This is quite common.
Sorry to hijack this thread, but it reminded me of a question I’ve been meaning to ask.
How do wirehouse bond inventories - specifically munis - compare to EDJ's inventory?Borker, IDK about wirehouse specific muni inventories but I often get frustrated trying to ladder short-intermediate munis and call my buddy at LPL to query him… “Hey Joe, whaddyahave 8-10 years, AA or better, $50k or more available, non-amt, etc?”
Holy smokes, through LPL Joe has quantity- hundreds of cusips and hundreds of millions of inventory- and he has yield to broker of a point or more, and the client still has better yield ,YET I dont have d*i*c*k* available at here Greenie World. Many times or most of the time I have zilcho and occasionally a $5-10k position that would only pay me 25bps etc. IMO this is a huuuuuge propaganda point that EJ gets my lemming bretheren to believe... "We have the best availability and best priced inventory. We don't have a trading desk taking profit out yada yada bla bla bla." I don't get it. Oh yeah I guess I do. It's B.U.L.L.$.H.I.T! Juck Phones!That was interesting, Juck.
Ice, I have a client who will only buy AAA rated and insured bonds - which are tough to find these days, of course - and she constantly complains that she had better selection when she was with SB. I'm just curious as to whether the muni inventory at a wirehouse is larger/better than that of the Greenhouse, or if she's just being a PITA.I agree with Juck… as i still talk to a lot of my old friends at jones, they have crap for muni’s, and if something does come in it is gone before you get a chance to put a lot of people in it…
I clear through pershing and they have quite a bit of inventory and the payouts are excellent also
it’s jones… I have a lot of AAA insured…
I have a friend who is a bond trader for a boutique firm and he tells me he gets call from Jones once in a while, and they always want stuff that is so specific it is hard to find good quantities. Those corps with the death benefit(estate feature)…