I need a little help. Looking for a retail focused b/d to buy bonds (Corps, MBS, Sovereigns, etc.) from - any recommendations? No problem sourcing it at an institutional level, I'm talking about buying for my personal account, some directed trades. I'm tired of dealing with the TDAmeritrades of the world who are great at stocks, but don't know the difference between an MBS and a corporate and want to charge me a 150bp spread everytime I trade or are getting duped on the other side of the trade with an asinine price from the seller.
Don't expect much until after the new year passes. CMBS has been relatively quiet, but it's not dead. This week, we've seen lists that include everything from A4s down through AJs (on one of the TIAA deals), and several small seasoned credit pieces are floating around.
ZH and Sprott have their tin foil hats on again, but I moved mine prominently to my desk for easy access after reading.
Why didn't Peter Cooper Village/Stuyvesant Town default?
Tepper is heavily invested in CMBS - but some of his logic is wrong, or he's talking his book.