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 [原创] 下雨天没孩子可以打，闲着也是闲着，我来侃侃这7000亿吧 |
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That's a terrible idea, you have completely missed the point -- 孙悟空 - (961 Byte) 2008-10-03 周五, 00:58 (774 reads) |
ceo/cfo
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作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Investors pull out of US commercial paper
By Aline van Duyn in New York and David Oakley in London
Published: October 2 2008 19:41 | Last updated: October 2 2008 19:41
The amount invested in the US commercial paper market fell by $95bn during the past week, increasing concerns about the availability of money for banks and companies from this vital source of short-term funding.
Data released by the US Federal Reserve showed the amount invested had its biggest weekly drop since the central bank began tracking the sector in 2001.
Of the $95bn weekly drop to $1,600bn, financial paper accounted for most of the decline, falling $65bn.
Money market funds have seen enormous outflows since Lehman Brothers filed for bankruptcy, sparking a flight to the safest possible investments, such as short-term US Treasury debt. Although traders reported more interest from investors on Thursday and a slight decline in the interest charged for CP transactions, it is thought unlikely that all the money that has been pulled out will return.
The freezing of the CP market – which has affected even top-rated companies such as General Electric, the conglomerate, and AT&T, the telecom group – comes as stresses in the bank lending markets have continued to build. In spite of a drop in overnight rates, the cost banks charge each other to borrow beyond a month remained high.
Dollar London interbank offered rates for three-month money rose to 4.2 per cent, a 5 basis point daily rise, while rates for the euro rose to 5.28 per cent, a 3bp rise, and for sterling to 6.3 per cent, a 3bp rise.
Significantly, the spread of three-month Libor for the dollar over expected official rates – considered a pure measure of credit risk as it measures the extra interest rates banks must pay to borrow relative to the government – hit historic levels. It rose to 260bp, a three-fold jump since Lehman folded two weeks ago.
“The credit markets are completely gummed up. Conditions have deteriorated every day over the past week,” said Suki Mann, credit strategist at SG CIB.
As well as regular CP, the amount invested in asset-backed commercial paper backed – by loans such as mortgage or auto loans – also fell, by $29bn in the last week.
作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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