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Credit Markets Show Small Signs of Easing Strain
Posted on October 07, 2008
The market got a big bounce at the open, but is struggling to hang on to those gains. Big tech stocks like AAPL and GOOG are still negative, which is weighing on the Nasdaq.The Fed announced it is creating a Commercial Paper Funding Facility (CPFF), which will provide liquidity for the strained commercial paper market. Banks and corporations rely on commercial paper for short-term borrowing, and this market has been under pressure as investors have flocked to Treasuries and away from money-market funds.The CME also announced a joint venture to create a regulated clearing market for credit de...
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