-->Hi,
während sich der Dow gerade große Mühe gibt, gen Süden voranzukommen, darf auch das nicht fehlen (ex Bloomberg):
Asset-Backed Commercial Paper Drops Most in 2 Months
Debt maturing in 270 days or less and backed by mortgages, credit-card loans and other assets fell $29.5 billion, or 3.4 percent, to a seasonally adjusted $845.2 billion for the week ended yesterday, the Federal Reserve in Washington said today. The broader commercial paper market had its first contraction in six weeks, declining less than 1 percent.
Investors are shunning commercial paper that may be backed by the same type of subprime-mortgage securities responsible for writedowns at Citigroup Inc., Morgan Stanley, Merrill Lynch & Co. and other banks. The retreat left structured investment vehicles including Cheyne Finance Plc and ING Groep NV's Simba Funding Corp. unable to repay maturing debt with new commercial paper.
Asset-backed commercial paper"has become associated with credit risk," Everett Rutan, the team leader for U.S. asset- backed commercial paper analysts at Moody's Investors Service, said in a Nov. 6 interview at an industry conference in Orlando.
The market has fallen for 13 straight weeks, shrinking about 29 percent since reaching a peak of $1.18 trillion on Aug. 8.
Gruß!
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