"2002 Mid-year Market Survey of privately negotiated derivatives notional
amounts outstanding at swap dealers worldwide. Interest rate and currency derivative outstandings are $82.7 trillion, credit derivatives are $1.6 trillion, and equity derivatives, surveyed for the first time, are $2.3 trillion. All swaps in the Survey grew significantly in the first half of 2002, but the growth in credit derivatives exceeded all expectations, said Keith Bailey, Chairman of the Board of ISDA. The strong increase in credit swaps is good news both for market participants and for financial markets as a whole, said Bailey. Individual market participants are taking advantage of the availability of credit protection, and financial markets are benefiting by spreading credit risks over a wider and deeper market. Interest rate and currency derivatives, which consist of interest rate swaps and options and currency swaps, increased over 19% since ISDA?s Year-end Survey in December. Among firms responding to both the Year-End and Mid-Year Surveys for interest rate and currency derivatives, outstandings grew 16%; and among the top ten reporting dealers, outstandings grew nearly 18%. Credit derivatives, which consist of credit default swaps, grew 44% since the end of 2001; among firms responding to both the 2001 Year-End and the 2002 Mid-Year Surveys, outstandings grew 35%. Equity derivatives, which consist of equity
forwards, swaps, and options, are the newest addition to the Market Survey."
JPM is 30 Trillion of those. Talk about liquidity. ROFLMAO! What's a trillion dollars between friends? An amount even the Fed can't print. What's 80 Trillion? Total value of goods and services produced by the US of A in 10 bubble years. Why isn't the buck folding? Now you know. And now you know what will happen when it does fold! |
