October 23, 2007

One of the key variables has been commercial paper. Its importance is obvious, since it has been the basic financing mechanism used by bank owned structured investment vehicles (SIVs) and other investors in the acquisition of longer maturity and higher yielding instruments. By borrowing short to invest long; these institutions are engaging in nothing more than a variation of the carry trade.

You must have an active account to view these reports. You may register for a trial here

Download Complete Report in PDF Format

Download Complete Report in Word Format