Freedom56
Thinks s/he gets paid by the post
My 5 year TD bank note (6.25%) order was just filled at TD Ameritrade (TDA).
Still waiting to see if the 5 year callable Goldman Sachs note (6.75% ) gets filled.
The highest new issue corp note I see today at TDA is 6.1%, 5 yr callable, Citigroup global markets. Settlement date is 11/17/22 (3 weeks away). I guess Citi wants to see what the Fed does/says during next week's Nov rate hike meeting before finalizing this offer.
I placed an order early-on for the 5 year, 6.75% Goldman Sachs new issue and the order status was quickly shown as "pending", and the "Cancel" button is not selectable. They tied up my cash...
I am not going to place an order for the Citi until there is some certainty from the Fed meeting.
Lesson learned.
My GS 6.75% orders on both accounts at Fidelity now show "Execution Pending". Yields are falling back ahead of the Fed decision next week. I just wonder if he will say something to spook the markets again or spark another bear market rally.