The SIFMA (Security Industry and Financial Markets Association, formerly the Bond Market Association) says "Money Market Outstandings" exceeded $4.06 Trillion in 2006, according to its latest "Research Quarterly". Total money market instruments, which include commercial paper (CP), large time deposits (CDs) and bankers' acceptances, ended 2006 up 18.7% over yearend 2005 and up 6.3% for the quarter. "CP growth has been driven by corporate investment, asset-backed CP product development and the recent surge in M&A activity. Investors are attracted to short-term markets by the current inverted yield curve," says the publication.

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