You are all right; I have been hammering 'no settlement until 2010' pitch too much, I made my point. So I'm done with that line. You know my views.
My big question is now, why are the PQ's red and the commons increasing? Did a number leak somewhere that shows commons are the better buy?
I mean the market is giving the PQs, which get paid in full first, a 2% chance of recovery. Why so low? Shouldn't we be at 10 - 15% with everything we know so far and all the wins?
To me - this is MM manipulation 100%. They are keeping it low for their own accumulation, but just out of reach of the common Joe.