Monday, September 10, 2007

$140B in commercial paper due by the end of next week

Looks like the next 10 days will be quite interesting - and critical. Bloomberg reports that $140 billion of commercial paper in Europe need to be refinanced by the end of next week. This may push up yield premiums on corporate bonds and will cause wider corporate spreads. Central banks may have to pump many billions of dollars again into the market. The price of gold can only go one way.

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