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Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

Wednesday, September 3, 2008

Finance ministry sells T-bills below planned.





Finance ministry sells T-bills below planned. The finance ministry reported that it again sold T-bills below the planned amount (HRK 300mn) at its latest auction. The ministry sold HRK 261mn (EUR 36.5mn) T-bills while bids reached HRK 301mn. Investors bided mainly for one-year T-bills and offered HRK 286mn, while the bids for six-month and three-month T-bills were HRK 5mn and HRK 10mn respectively. The ministry accepted all bids for six- and three-months notes but only HRK 246mn of the bids for one-year notes. The yield on one-year T-bills increased by 0.05pps to 5.80%, while the yield on six-month T-bills dropped by 0.5pps to 5.10% and on three-month T-bills remained unchanged at 5%. The ministry plans to hold the next auction on Sep 9, when it intends to offer HRK 400mn T-bills. The stock of the short-term government debt after the auction amounted to HRK 11bn.







We are the best bank in this market because... Actually we had better make that off the record, as it’s probably not true... though I hope you think it’s true

A senior debt banker gets himself in a pickle after forgetting that the global award interviews are on the record. -Awards for Excellence 2008 Off the record special

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