Feds First Auction

December 19th, 2007

The first auction didn’t go quite as well as hoped.? The funding was given at 4.65% which was on the high-end of expectations.? The range was 4.17% – 4.70%.

In addition, of the $61BB put up for collateral, only $20BB was accepted.

Interesting to note that Goldman Sachs had a huge 4th quarter by hedging against the Subprime mess they helped create.

-- By +Chris Duncan

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