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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (7594)	9/9/2001 1:26:01 AM
From: energyplay	Read Replies (1) \| Respond to of 23153

Oblomov - A very dramatic chart. Part of the reduction in commercial paper has been due to the increase in Corporate bond issues. Corporations took advantage of the decline in available Treasuries, and the reduction in the spread of corporate over treasuries & lower rates to 'lock-in' lower borrowing costs. Also, the chart would look only slightly less dramatic on a log scale. The two above items would only slightly attenuate the dramatic swing. Note that there is a reasonable trend or channel until about mid 1998, when the upward slopes of the bubble show up. The current level is back to this trend line, but looks likely to over shoot and go MUCH lower...