As you know, we arrange BG leasings in the market.
Unfortunately we cannot find a SEASONED BG from RBS, if anybody has access to a SS BG from this bank, do not hesitate to contact me:
josebueno12@hotmail.com
Rgds,
JB
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Lux, you are not wrong there! I've got some happy investors sitting on above par paper that they got at a substantial discount. Most are not selling though, as they've locked in very nice yields and now that there seems to be less risk to the banks they are less worried about a "credit event". This lack of supply is causing prices to be kept nice and high, although it's getting difficult to buy. I had to go to 3 different guys today just to pick up 3 GBP issues.
As far RBS, their funding levels are still a little better than the rest, although as the paper is virtually govt guaranteed it is madness.
Jose, if you want any RBS paper just let me know. I've been pricing equity digitals with them over the last week and they are very competitive at present.
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