ANOTHER DARK-SIDE FIXED-INCOME BET

The 'tourist walks you through why he is adding Harley Bassman's PFIX to his portfolio

I don’t know ‘bout you, but nothing frustrates me more than stumbling on a great trade, only to find that you need an ISDA to transact. We all don’t have the luxury of having Ben Ricker on speed-dial (plus, the firm that “will trade with anyone” is no longer around).

Well, lucky for us, when it comes to trading swaptions to express a view that long-term…