Final Results of the Lehman Brothers Auction, Friday 10th October 2008

[Roland99]

This doesn't bode well.

http://www.creditfixings.com/information/affiliations/fixings/auctions/current/lehbro-res.shtml

Final Results of the Lehman Brothers Auction, Friday 10th October 2008
Final Price: 8.625

On Friday 10th October 2008, 14 dealers submitted inside markets, physical settlement requests and limit orders to the Lehman Brothers auction administered by Creditex and Markit to settle trades across the market referencing Lehman Brothers.


Dealer Bid Offer Dealer
Banc of America Securities LLC 9.5 11.5 Banc of America Securities LLC
Barclays Bank PLC 8 10 Barclays Bank PLC
BNP Paribas 9 11 BNP Paribas
Citigroup Global Markets Inc. 9.25 11 Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC 8 10 Credit Suisse Securities (USA) LLC
Deutsche Bank AG 8 10 Deutsche Bank AG
Dresdner Bank AG 9.5 11.5 Dresdner Bank AG
Goldman Sachs & Co 8.875 10.875 Goldman Sachs & Co
HSBC Bank USA, National Association 10 12 HSBC Bank USA, National Association
JPMorgan Chase Bank, National Association 9 11 JPMorgan Chase Bank, National Association
Merrill Lynch, Pierce, Fenner & Smith Incorporated 8 10 Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated 8.25 10.25 Morgan Stanley & Co. Incorporated
The Royal Bank of Scotland PLC 9.25 11.25 The Royal Bank of Scotland PLC
UBS Securities LLC 8.75 10.75 UBS Securities LLC

[spinbaby]

1. The market seems to like it

Dow's going up.

[Davis_X_Machina]

2. Not-knowing is worse than...

...bad news. The exact amount of shit in Big Shitpile (h/t Atrios) matters for planning forward.

[Roland99]

4. Still have a witching hour coming up. And Monday markets are closed (Columbus Day)

[Dogmudgeon]

6. Only for the USA

If the international markets continue to reel on Monday, it will put downward pressure on the futures for Tuesday's Wall Street opening and trading.

--p!

[Roland99]

7. Ayup. And TED Spread is up to 4.62 and VIX is up 15% to 74.

It ain't over.

[Roland99]

9. It's here and a nice 160pt bounce up so far. Interesting.

[Roland99]

3. Could be related. Could be other news. Could be post-lunch faeries.

[spinbaby]

5. I like the post-lunch faeries

They sprinkle sleepy dust on the traders and the prices rise.

[Roland99]

8. Not anymore. -490 and 8,088