Around 10am central time today after coming off the highs of 114-00 in the ten year the screen was suddenly bid for size, say 4000 or so, then 1000 trade, bid gets pulled, bid back again 1000 more trade, this proceeds a couple more times. At this point paper has sold about 5,000, then screen is bid for 6,000 more, this time 3,000 trade at once, when it is all said and done he sold 10,000 plus from 30.5 down to 30. Then Goldman comes into the pit and sells another 5,000 from 30.5 down to 28 (Hardy buying about half of them). My guess is Goldman was the size seller on the screen and after Hardy didn't show more size bids on the screen they came into the pit to unload the rest on the locals. Either way, that was a HUGE order, wondering if anyone was hearing of any weird flows today?
Probably just a hedge against a bond they just issued and waiting to sell out. Watch over the next few days and see if GS starts buying it back, as they sell off the bond.