blender
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Post by blender on Mar 11, 2015 22:01:37 GMT
Inspired by a comment on another thread about a slow week for Autobid on property parts, I thought I would check the pattern. Having a large number for sale at par I thought the daily sales would be steady. The following table is daily sales of £20 units at par (in £20 and £40 loan parts) for each day over three weeks. Ending yesterday, Tuesday 10 March 2015. These are all property loans - I have sold nothing else at par. I cannot believe that in about 150 sales totalling £4280, nothing has been taken on a Tuesday. Is it a religious observance? Is it just property loans, or just my property loans? And notice the stand out number of 43 on Saturday 28th Feb - almost as if the short month meant that the ration was increased. Random?
| Week 1 | Week 2 | Week 3 | Total | | W | 4 | 2 | 13 | 19 | | T | 10 | 0 | 9 | 19 | | F | 6 | 17 | 11 | 34 | | S | 10 | 43 | 12 | 65 | | S | 12 | 19 | 8 | 39 | | M | 13 | 15 | 10 | 38 | | T | 0 | 0 | 0 | 0 | | Total | 55 | 96 | 63 | 214 |
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Post by longjohn on Mar 11, 2015 22:29:35 GMT
That's interesting. I've just checked my sales and the last part that sold at par on a Tuesday was on 9 Sept 2014.
I had a fair share of Tuesday sales at par in 2012-13 and early 2014 but nothing from October 2014 onwards. It stands out in a comparison with the rest of the week.
John
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chrisf
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Post by chrisf on Mar 11, 2015 22:53:07 GMT
I like to buy property loans at 3% mark-up, but I only like to do it on a Tuesday. The annoying thing is that I can never find any parts on a tuesday, for any price. I have thousands of pounds ready to buy low-rate Tuesday loan parts, but unfortunately they are like hens teeth. I understand that some good parts are available on Wednesdays, but for me it just isn't the same.
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fasty
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Post by fasty on Mar 11, 2015 23:24:17 GMT
Sorry to spoil the conspiracy, but I've regularly sold loan parts at par on Tuesdays, although it is consistently the slowest day. Perhaps they're just picking on you, blender; it's personal. I sell a lot more on Thursdays, though. I noticed it long ago and it still holds true.
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blender
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Post by blender on Mar 11, 2015 23:30:42 GMT
I like to buy property loans at 3% mark-up, but I only like to do it on a Tuesday. The annoying thing is that I can never find any parts on a tuesday, for any price. I have thousands of pounds ready to buy low-rate Tuesday loan parts, but unfortunately they are like hens teeth. I understand that some good parts are available on Wednesdays, but for me it just isn't the same. Just trying to understand the strange things that are going on. Maybe Tuesdays are set aside for particular property loans? And what about loan 9950 H*******e, which was the tranche that was listed at the same time that the earlier tranches were downgraded. All my parts (a lot) went at par between 8 Jan and 18 Feb and now on the SM there are only 18 parts with the cheapest at a 0.6% premium and a buyer rate of 6.1%. An 8% A+ loan. I have sold too cheaply! I fear that if you wait till next Tuesday there will be none left. It's no good waiting for a 3% premium before you buy, because that would take the buyer rate below 4% - which is not allowed. Meanwhile the earlier tranches are still risk-band-removed.
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Post by GSV3MIaC on Mar 12, 2015 17:09:24 GMT
Tuesdays, historically, has been the day when a whole bunch of rejected WL candidates hit the primary market, so maybe that is soaking up the autobid cash (or maybe FC are thinking it'll happen so throttling autobid's use of the SM ?). Can't see anything else mystical about Tuesdays, but yet, that's been a slow sales day for me (for 'at par' parts) too.
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