Investors shun yields to stay short in ECP
The average tenor of new issues in the European commercial paper market dropped to its lowest level since April last month, according to Euroclear, as investors remain strongly risk averse.
The average maturity for the month was 71 days, down from 77 days in October. The average tenor has not been this low since April, when it was 68 days.
"There is a bit of uncertainty about when rates are going to pick up," said one CP dealer in
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