Here’s a bit of advice to folks working in corporate treasuries. Shop around less…
In choppy markets, that sounds kind of counter-productive. You’d think that by calling around you may find a bank that would like to take the other side of your trade and give you a good rate…
Not these days. Instead, what you get is three guys running to trade ahead of you and then quote you a price after the market has already moved. Therefor, if you can, call one guy and bite the bullet. Deal on his quote and take your lumps, because your lumps are only gonna be larger if you shop around.
