85 sats \ 5 replies \ @grayruby 14 Apr \ on: Can a Treasury Auction Fail? econ
Isn't the tail simply the difference between the lowest price paid at auction and the average auction price?
Lavish is the best.
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60 sats \ 2 replies \ @siggy47 OP 14 Apr
Wow. You're good. You can skip the beginning.
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85 sats \ 1 reply \ @grayruby 14 Apr
I am pretty sure James covered auctions on either Peter or Preston's podcast some months ago. I don't know all these episodes blend into one over time.
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60 sats \ 0 replies \ @siggy47 OP 14 Apr
I know. I can't keep them straight in my head.
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50 sats \ 1 reply \ @Bell_curve 14 Apr
The tail is the high yield minus the bond’s when-issued yield
Positive tail means weaker than expected demand
Larger positive tail means worse auction
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10 sats \ 0 replies \ @grayruby 14 Apr
High yield = low price paid but thanks for clarifying the when issued part.
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