Sabri wrote:
All I said was that TCB can trade the TT Eurodollar bonds, that is, buy and sell them, and doing this influences the spread. For example, in the event of a sell off of any bond, if you go out there and start buying the bond, you can stop a drop in the price and may even push it up.
Still, may I suggest that there's no free lunch here either? You are proposing TCB to take positions contrary to the market to keep the spreads tight. Aren't you assuming the markets wrong in selling off? If it makes sense for TCB to prop up a Turkish Eurobond, why doesn't that apply to any other trader as well?
