WMP spreads widened sharply in the past week as investors went in search of safety. Yields for guaranteed products and short-duration products all dropped sharply, while yields at small banks rose sharply. Also, the number of non-guaranteed products, products with more than 1 month of duration and less than 1 year, all declined in number. This shows there's still some appetite for high yield, but the vast majority of investors are piling into the safest products. The decline in yields reflects investor rejection of risky projects.
Weekly Initial Unemployment Claims Decrease to 210,000
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The DOL reported:
In the week ending March 23, the advance figure for *seasonally adjusted
initial claims was 210,000*, a decrease of 2,000 from the previo...
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