Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
I bought about 20k in CDs today (a bit lower because par was under 100) that was about 20 basis points above new issue ones. The term is about a week less than 10 years and there were more units available that I did not purchase. This is my first secondary purchase which leads me to this dumb question. Am I correct in my understanding that somebody bought these a week or so ago and no longer want them? Does this happen much that people buy them and then immediately sell for a loss? Seems odd to me if my thought process is correct.
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