RobertA

ibankers DO NOT underwrite govt securities!

it said ibankers reselling or selling govt bonds. Ibanks have govt bond positions. when they sell them, they are selling them on the secondary markets.

both others were primary market activiites.

shelf registration is selling bond precleared to be sold on the primary market for hte FIRST TIME. they were simply registered to be sold, then put "on the shelf" when they are eventually sold it is a primary activity.

it was 100% the ibanker answer