Halister News

(Bloomberg) -- Estimate based on the possibility that there may be “some upside left,” Citi strategist Steve Kang said in note.

• Japanese, Canadian, French banks continue taking the largest share of CDs/CP from U.S. money market funds, and could “bring up CP/CD rates (and by extension Libor)” going forward
  • Issuing CP/CD still cheaper “by a big margin” compared to other funding options
  • Japanese banks responsible for 19% of CP/CD issuance, Canadian banks 16%, French banks 14%