mcurto I certainly appreciate the color from the floor. keep up the flavor.....perhaps take GS out of the title! that old T notes today was a good thread.
TomCole, Following the broker/dealer/paper would have been much less painful yesterday for a lot of locals, but their job is simply to provide a market for big paper like that. If that was a hedge or whatever yesterday it doesn't matter, the guy bought 50,000 ten years and moved it half a point in doing so. Just thought I would let people know. Talked to my brother who speaks to a lot of salesman on a daily basis and he was hearing a European hedge fund covering shorts.
Think that guy was finishing up before Greenspan today. Was 23 bid 6000, up until two minutes before, he pulls it, then local offers 6000 at 23.5 (all on screen), and then they pay 23.5 on 3500 one order. Great trade for that local (probably Hardy).
Actually it does matter. If you're just riding the wave, thats cool - a few free ticks here and there pay for lunch! If you're holding it, thinking they're gonna sell it back to you , they may just be arbing out of it and the locals will be sucking on it for a long time. Can you tell which phone/screen at GS the orders are coming off?
Yes, I can see exactly which guy at the desk is doing it. Same guy the whole day, so that means most likely same customer. Locals here could care less if the guy is arbing out of it, they will pretty much take the other side all day. I got caught trying to fade him, that happens when you run into huge paper like that. I was just simply letting people know what was going on, regardless of which direction it goes afterward, I think 50,000 contracts might move the market. Once again, just my opinion. Enough arguing about this, we are essentially getting nowhere. Ultimately the point of the thread was to point out someone was willing to bid the **** out of the futures all day because they HAD to move size. Enough said. Mike
Do you know if its their prop desk, a market maker or GS futures broker, was my question. Its more relevant which arm of GS is doing it.
Not their prop desk guy, he goes through a different guy at that desk, and more often than not likes to use the pit more on some big orders. I'm gonna venture to say it was a futures broker, was hearing from my bro who is in contact with an old Goldman salesman that it was a European hedge fund.
yes agreed , thanks for the color,,,,word here is its been pimco, I understood they clear Dbank (whose gone now) and GS, but who knows