In late July, Rob Nicholls, the chief of the AOFM gave a speech regarding the divestment of the Residential Mortgage Backed Securities (RMBS) acquired after the GFC. In the speech he said the AOFM would sell the securities in an orderly fashion and without resorting to a “fire sale” but the latest auction would suggest an orderly sales process has become somewhat problematic. The AOFM has nearly $3.5bn of RMBS...