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Post by yorkman on Jan 3, 2017 12:07:22 GMT
Thirty minutes ago the Rolling market was showing over £9m in the queue at 2.9%. I placed a small amount at 2.9% and it was matched withing twenty minutes but the queue still shows over £9m. I can't believe that in the last half hour the £9m ahead of me in the queue was matched and a further £9m placed moments later. Any ideas what is going on?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jan 3, 2017 12:16:06 GMT
The £9M queue is "borrowers" (RS says!!) offering you 2.9%. You have lent them some money (that's RS's "Lend right now" ploy), but there are still most of those borrowers (in other words RS) waiting to give you 2.9% on a bit more. Grumpy's Strategy: £9M waiting to be borrowed. RS offer 2.9%, always below the lowest lender offer. This £9M+ will be matched in bulk during the morning (or early afternoon), but will have to gobble up the 3%, 3.1%, and some of the 3.2% (real) lender offers. Grumpy places his order at 3.1% which puts him about £8M* down the lender queue, but he expects a match quite soon this afternoon. * I also have a bit from last week at £4M in the Q, also 3.1%.... was at £300K but today's "market rate" dump was in 3% (hence RS's immediate offer of 2.9%). Should all be hoovered up this afternoon.  EDIT: 16:09 BINGO!! All matched at around 3-4pm this afternoon at 3.1%. This big "event" happens nearly every Monday especially after a 'long weekend' and on "rolling" the rate achievable can be as much as 0.5% more than "right now" and 0.2% more than 2market rate". I don't suppose it matters much on temporary cash in the rolling account - but a similar principle on 5year used to bag me as much a 1% more than sleeping lenders. |
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Post by yorkman on Jan 3, 2017 12:21:29 GMT
Ah. I see the error - I'm used to joining the queue 'higher up'.
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