NBS on Nostr: npub163k0g…whljx npub1ul8tu…4kl35 The primary dealers linked by Mark are indeed ...
npub163k0gvm3x8s7qqjnukf6a2jq4nus3s74j7y64pctcgrwy3nmsllswwhljx (npub163k…hljx) npub1ul8tua30lc5rs6ytqus250kg244vevnaumsdsqfl42cz3n86hhzs04kl35 (npub1ul8…kl35)
The primary dealers linked by Mark are indeed required to show a bid for Treasuries in these auctions. Details can be found here: https://www.investopedia.com/terms/b/bill-auction.asp , but long story short: it’s a Dutch auction wherein you bid based on your opinion of a fair rate and the Treasury allots fills according to how competitive your bid was. So it’s a game of game theory, as well as appraising fair value
While this auction a huge miss, it just means dealers bid really low
Continued
The primary dealers linked by Mark are indeed required to show a bid for Treasuries in these auctions. Details can be found here: https://www.investopedia.com/terms/b/bill-auction.asp , but long story short: it’s a Dutch auction wherein you bid based on your opinion of a fair rate and the Treasury allots fills according to how competitive your bid was. So it’s a game of game theory, as well as appraising fair value
While this auction a huge miss, it just means dealers bid really low
Continued