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We have a small commodity pool and are just trying to park excess cash in short term corporate bonds(18 mths or less). Afraid to buy into bond fund and risk capital loss from interest rate flucuations. We have another interest rate exposure in our core positions.
Ira and FXTrader mentioned keeping an eye on the spread. What should I be looking for exactly? I thought when we bought our last bonds that we simply hit the offer of the spread. I guess that is wrong...?
We bought our last bonds from a regional firm named "Davenport Securities". I'm guess we just bought these out of Davenports inventory so they got both the spread and commission?
>
> From: "EarlA" <earl.a@xxxxxxxxxx>
> Date: 2003/07/03 Thu PM 01:02:48 EDT
> To: <realtraders@xxxxxxxxxxxxxxx>
> Subject: Re: [RT] commission on corporate bonds...
>
> Symbol for iShares GS Investop Corp Bond Fund is LQD which can be executed
> at IB for $12.50+- for $200k. In way of another suggestion, I would consider
> using Vanguard ST corporate bond fund for low costs.
>
> Earl
>
> ----- Original Message -----
> From: "EarlA" <earl.a@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, July 03, 2003 10:52 AM
> Subject: Re: [RT] commission on corporate bonds...
>
>
> > Join the sore butt club! I was raped by Fidelity on comparable sized TBond
> > orders a year or so ago and posted info here. Commission was free both
> ways
> > on large orders, however they cleaned my clock on spread (Fidelity is
> > dealer) when I sold. Fidelity quotes competitive prices online for online
> > purchase but nothing online for selling ... should have sniffed that one
> out
> > before I was sucked in.
> >
> > Every time I wire a large sum from Fidelity into Interactive Brokers,
> > Fidelity calls to ask if there is a problem and gets an earful. So far
> they
> > have not refunded any of the $5k+- I was charged in spreads.
> >
> > More recent bond purchases (high grade municipal and foreign) have been
> via
> > closed end funds at discount ... very happy with these. I would use the
> new
> > Lehman indexed ETF's for treasuries (SHY, IEF, TLT) and corporates (don't
> > remember the symbol). Also have account with Treasury Direct. I will never
> > purchase bonds through a broker again!
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Howard Hopkins" <hehohop@xxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Thursday, July 03, 2003 10:10 AM
> > Subject: [RT] commission on corporate bonds...
> >
> >
> > > RT,
> > >
> > > We just got raped on a purchase of $200k of corporate bonds. The broker
> > we used charged us $1,000 commission. How does this compare to other
> full
> > service brokers? Can corporates be purchased through any discount houses?
> > >
> > > Thanks,
> > > Howard
> > >
> > >
> > >
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> > >
> > >
> > >
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> > >
> > >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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> >
> >
> >
>
>
>
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