Jonathan's dilemma: a strategy for secondary marketing managers seeking to make money and stay covered in a bull market.
Mortgage Banking › Vol. 51 Nbr. 5, February 1991 ›
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Summary
Jonathan Smith, senior vice president ,secondary marketing
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Extract
Jonathan's dilemma: a strategy for secondary marketing managers seeking to make money and stay covered in a bull market.
Jonathan's Dilemma
Take yourself back for a moment to late last year. Jonathan Smith, senior vice president of his company's secondary marketing department is deciding on what recommendation to make to the secondary marketing committee on Thursday, November 1, 1990. The market has been trading upward since late September. Jonathan's hedging approach has remained forward sales because of the threat of war in the Persian Gulf. Now, he has concerns that an upcoming Treasury auction and economic reports also due out shortly will add fuel to the rally. His favorite market pundits are calling for significantly lower rates within three months. His fundamental and technical bias concurs with such a forecast. Jennifer Ortega, the chief financial officer and key member on the committee, has been reluctant in the past to be long any ...See the full content of this document
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