With the Fed buying corporate bonds directly in the market. The 3Go1Go brain trust decided it was time to open an account with the greatest money printing institution on Earth. They will probably even let us trade bonds for wide spread like the good ole days! Remember when bonds traded for points and not eighths; We do! Here is a glimpse into how it went:
OLIVER KLOZOFF
08:01:15 Hi Jerome, I am the Co-head of IG & HY Sales at 3Go1Go Securities. We have heard that you are involved in corporate bonds and we believe our firm, as one of the oldest on Wall Street, is uniquely positioned to help you achieve your goals in the bond market. Our mortgage desk is considered by many to be top 20. We are active on all of the electronic trading platforms and have a distinguished senior sales staff with great calls into every major market participant. We are even looking to underwrite our own bond deals in the near future. If you are available for a brief call this week, I’d love to introduce myself and I can even invite one of our world class analysts to describe our top picks. Thanks for your time!
*** JEROME H POWELL (FEDERAL RESERVE) acknowledge the chat request
JEROME H POWELL
09:25:19 Hi, I can’t say I have ever heard of your firm before. The stock market is about to open and I’m too busy right now for a call. Please add me to your runs and we’ll see if anything lines up.
OLIVER KLOZOFF
09:26:13 Will add you right away. Do you have a back office contact that I can send account opening docs too to kick start the process? Thanks
JEROME H POWELL
11:35:11 It might be a little premature to open an account right now, but you can send it to FED@IRS.GOV. My back office is admittedly pretty slow to respond.
OLIVER KLOZOFF
11:36:05 Understandable, but I am sure we will add value and find bonds to trade, so I’m going to send the docs over. Let me know when you want to have a quick call and I can give you a detailed view of what 3Go1Go can offer. I’d also love to setup a meeting. I can bring our distressed special situations analyst as he is one of the best in the business and we can go over credits at Bobby Van’s over some steak and toast.
JEROME H POWELL
15:38:30 I’ll let you know when I’m free next.
OLIVER KLOZOFF
15:39:15 Great! Looking forward to meeting you Chief!
One may ask how I was chosen to cover such an account when we have so many amazing salesmen at 3Go1Go. Well that was easy. I just stood up and proclaimed I had known Jay forever and was even in his wedding!