Fed says TALF loan demand fell to $1.7B from $4.7B last month. Recall that the WSJ earlier reported that only two issuers had put together about $1.4B of TALF-eligible bonds heading into today's 17:00 ET deadline, significantly less than the $8.2B put together ahead of the March funding. The article noted that tedious paperwork, fear of legislative interference and curbs on hiring foreign workers have discouraged many firms from participating in the TALF. Also recall Zero Hedge's thoughts on the matter.
hat tip reader Momentum Chaser
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2 comments:
the tslf had miserable bid to cover for months. the only thing that matters is that there is the option available. it doesn't hurt, but it is one more thing that helps.
What are your thoughts on the Vix? It declined today even in the face of an equity market sell-off.
I've spoken to some traders and they seem to think that the SEC uptick hearing caused the vix decline.
Thoughts?
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