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(The Year 2012 In Review)
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|User Info||Call The Whaaaambulance: Treasury Fails; entered at 2009-04-30 10:18:18|
Registered: 2009-03-09 avoiding yellow snow
About 1 to 2% of treasuries fail to settle, and normally get cleared up within 5 days (90% get cleared up in 3 or less). For equities it depends on the stock, but with typical NYSE, you are looking at also 1 to 3%. And most gets cleared up in days.|
BUT....(with a Big B), in the fall of 2008, nearly 20% of treasuries were still failed for six weeks, up from about 9% early in the year and up from the 1-2 norm range in 2007.
Clearly, there was massive naked short selling going on. And it is illegal. Period.
KD: stick to 20's, they are easier to "clear"....
(small note of trivia: there are more $100 bills in circulation in Russia than in the US....)