Quote:
Originally Posted by Schlesinj
I was trying to keep it generic since it sounds like a similar concept. The initial response of the bidders was they did not like it. It then became normal.
It is for the sale of municipal bonds to the primary investor (usually an investment bank). Rate just means overall interest rate and cost in this case. The lower the better for the issuer off be bonds.
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How are buying bonds the same as buying sports cards? There is no way they DECREASE the price in extended bidding, that would completely defeat the purpose.