I can say that the conversions are very consistent daily/weekly and they are in fact controlled. We are seeing a combination of MM playing the spread, sellers shaking weak hands and of course conversions, but a very small fraction of the daily volume.
We need demand and a tighter spread with 3 or 4 strong Bidders. That would lessen the mm games.
But what we really need is the financing in place to rid RXSF of the Notes.