Is this sense in the existing entry?
I see the word concession used rather regularly lately with respect to the US Treasury's auction of Treasury Securities -- but I don't see a good definition in the existing entry for this use. One example is | this article in February 2009:
"the rolling concession which the Treasury market requires to accommodate the issuance.
... notes that the concession building makes the charts look weak and that engenders more selling. ... sold $15 billion 2 year notes today at a 5 basis point concession. That is substantially narrower than they had paid in the last several months but is substantially wider than they would have paid in the heyday of [the former agency chief] when new issue concessions were generally in the vicinity of a basis point.Similarly, corporate bond issuers rarely paid more than a nickel concession to fund themselves. Once again the concessions have narrowed but the fact is the concessions of 25 basis points to 50 basis points are still common place.
I think that an era of unheard of concessions for Treasury issuance is possible too. The funding needs of the Treasury are prodigious and given the details of the budget released today it will only increase in the near term."
Does any wordsmith want to try to add this sense? N2e 03:59, 27 February 2009 (UTC)