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Suggested Edits - Tuckman 12 - repos

Thread starter #1
Hi @David Harper CFA FRM CIPM ,
After reading the notes for Tuckman Chapter 12, I'd like to recommend a couple of edits, that I believe aid in the understanding of the content. (Apologies if you've already made these updates, my copy is from the Spring when my membership was last active).

AIM: Describe the characteristics of special spreads and explain the typical behavior of US Treasury special spreads over an auction cycle.

- Suggest adding a bullet point that clarifies the special spreads equals the general collateral repo rate minus the specials repo rate
- Suggest adding a definition for OTR as it is used in the notes. Per Tuckman - "The most recently issued bond of a given maturity is called the on-the-run (OTR) or current issue while all other issues are called off-the-run (OFR)"