SSAs swoop for size as money funds step back from banks

28 May 2010

Volatile markets left financial and corporate names struggling to get European commercial paper issues away this week, but triple-A borrowers benefited. Some money market funds have already pulled out of the ECP market, while continuing uncertainty leads these important buyers to expect further withdrawals.

"A lot of the money funds are concerned that they may get more than the usual amount of month-end redemptions," said one CP dealer in London. "There are buyers out there, though there are fewer of them, and they’re exercising their buying power to demand slightly higher yields."

This ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.