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The system is broken.
As we have all seen, the market price of these bonds has exploded in October. Buyers either being very smart in manipulating the market price or unaware of the actual value boosted the market price to more than 200% of the intrinsic value!
Some have profited well from selling bonds against this unrealistic price to buyers probably unaware of what they were buying. But now the market price stalled at EUR 115. Still more than 50% above a realistic value.
The problem is that because of this big difference, we cannot offer to sell against a realistic value. With a market price of EUR 115, the minimal sell price is EUR 103.51. No person with any understanding of the product will offer this price. And because nothing will be sold, the market value will not change. Therefore, the system is broken and no trading can take place.
We need one of the following solutions here:
- Investors who are buying against this crazy market price to get the price down, or
- a market moderator to manually drop the price with 30%.
Not sure whether the second option is possible. So hoping for your generous offers on my sell orders!
If you see other solutions, please comment.