Banks tipped for ECP duration extension
Banks could push out their Euro-commercial paper tenors next week more than their sovereign, supranational and agency counterparts as investors look for yield and fresh cash flows into money market funds, according to dealers.
The ECP sector got off to a healthy start in 2013, with money market investors showing healthy interest. With more cash particularly sterling expected to flow into funds next week, banks could take advantage of the demand for yield to lengthen maturities.
"Duration extension will take place
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