Looking for a bank to do this somewhere in the US. Any ideas?
Looking for a bank to do this somewhere in the US. Any ideas?
Um, if you have a $25 million bond, I'm pretty sure you should know how to do this yourself. People don't just "come across" those things in their sock drawer. Call up the sales desk at any bank, they have a market for any common issue.
If you have one for 1 mill, I might consider it.
True, I should but I was contacted by a foreign national about banks that would so this. I am interested in the broker fee he offered and didn't care to admit that I didn't know how to go about it.
I'm sure that if you send him a few thousand dollars, he can probably hire competent help in his host country in order to accomplish this task.
Thank you please and god bless!
If you want to not get your money back, go for it.
Broker fee? What's your role in all this? Do you even know the guy? I work for a major international bank, that's what they're for, to do this sort of transaction. I'm a little unclear on why he contacted a letsrun poster for help with this.
I was coming through Japan last week and ran into a guy i know. He said he had tapped all his resources on US bonds and needed new banks to try to do business with. He asked if I knew of any and said he'd be willing to pay a fee if any relationships with the banks worked with him.
I don't have a clue how this works so I said I'd help. Its not like he looked on LRC to find some guy to help him.
US Treasury Bonds are offered by the government in denominations up to $1 million and terms up to 30 years. You can by them through broker-dealers on the secondary market with a fee that depends on the size of the transaction.
You can buy them from the government with a maximum non-competitive purchase of $5 million.
Why in God's name do you want to put $25MM in the bond market? Once Bernake finishes with the QE game, bonds are going down...