Tuesday, April 24, 2007


Traders use the term pick to describe how much yield is improved by doing a trade. For example, if a trader told you that you could sell MER senior notes and buy sub notes and "pick 20", that simply means that the sub notes can be bought with 20bps more yield than the senior notes.

Also, in the municipal market, PICK is a bulletin board on Bloomberg where dealers post municipal offerings.

1 comment:

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