Uncertain investors pile into CP as rate rises loom large

12 May 2011

Jittery investors provided a large amount of short-term liquidity this week, giving ECP outstandings a boost, amid the uncertainty over Greece’s bail-out situation and looming rate rises.

"The market has been firing on all cylinders," said a CP dealer in London. "Every day we’re seeing a net expansion. There’s more money coming in, and outstandings are at their highest for close to a year."

While overall ECP outstandings are at $553.3bn, according to Dealogic, banks had ...

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