Understand the Bond King (guest: Mary Childs)
The Market Huddle
00:00
What Pimco Did That Was So Unusual?
Pimco created the first futures contract in 1983. It was used to trade mortgage bonds and other financial instruments. The interest rate paradime at the time had not been going down, so rates were high. Pimco decided to force physical settlement on a number of different types of contracts.
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Transcript
