The difference is that the flaky-currency players don't buy dollar-denominated bonds and don't buy longer-term paper.
Fixated to the extent that I wrote a term paper for my music class on the band.
Individual investors hold too much invested capital in bonds and short term paper.
The company was able to raise short-term paper at very low interest rates, which lowered its overall cost of borrowing.
Or to buy short-term paper issued by off-the-balance-sheet financial units of major banks that were not transparent to the investment community.
What if you sell and reinvest in short-term paper yielding only 2%?
Or it could give you a new way to goof off in the dorm when you're supposed to be writing that term paper.
This last-minute term paper was only 5 pages of principles, which has yet to be turned into the necessary hundreds of pages of a bill.
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The European Financial Stability Facility announced an expanded funding profile Wednesday, with plans to start selling short-term paper with three-, six- and 12-month maturities.
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The less charitable interpretation is that the central bank has softened the penalty for banks that have funded purchases of very illiquid assets with short-term paper.
You can get the currency exposure either by purchasing short-term paper issued by the flaky government in question or by taking a long position in the futures market for that currency.
That is, the interest rate on Argentinean short-term paper, or the price of the peso on the forward market, reflects the risk of a surprise devaluation that will cost you a chunk of your capital.
The credit rating agency referenced the December 3 offer by the Greek government to private investors to participate in a Dutch auction to exchange their sovereign bonds for short-term paper issued by the European Financial Stability Facility (EFSF).
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It makes no more sense to ask why a Lean Startup has not returned its investment in a truly spectacular way than to ask why a student term paper or senior thesis in college is not a Harry Potter level bestseller.
The rate cut may have been intended to help reduce the cost of this borrowing, and to ensure that less-healthy firms already squeezed out of markets for longer-term corporate debt were not shut out of short-term paper and, crucially, forced to turn to the banking sector.
But as long as such high returns are available on short-term government paper, even a tax break may not make longer-term, riskier investments look sufficiently appetising.
During the past few months, yields on long term muni paper went through the roof, from 4.75% to 6.5%.
The technique could be used to prevent fraud as well as provide a new meaning to the term 'paper trail'.
The central bank is also trying to woo money by fiddling with regulations: on August 24th it allowed foreigners to invest freely in short-term government paper.
But it is too soon to tell whether the vehicle will ever be restored to its former pre-credit-crunch glory, when it was able to issue short-term commercial paper to fund its investments in asset-backed securities.
On the other hand, the European central bank has given European banks billions of no-cost three-year loans and guess what, some of those banks have been using that money to buy newly issued short-term government paper.
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But while Immelt has taken major steps toward shoring up the company's balance sheet, including slashing its reliance on short-term commercial paper and reducing risky real estate loans, GE is still vulnerable to rising interest rates and unwelcome scrutiny from regulators.
The company, which makes screens for Apple's iPad and iPhone, needs to shore up cash to roll over as much as 360bn yen of short-term commercial paper and will need another 200bn yen to cover a maturing convertible bond in September 2013.
The IRS was ordered to remove the "tax protester" code from the computer files of 57, 000 taxpayers (or nontaxpayers) and excise the term from all paper documents and files.
Whilst engaging in dialogue to remove illegal symbols can bring short term relief, the paper argues that there are risks to this approach.
"The arrest order's timing has raised certain crucial questions about the likelihood of the democratic setup surviving as it approaches the end of its term, " the paper said.
These particular options have the tax advantage that, for long-term investors, the paper gain on exercise is not recognized until the stock is sold and it is then taxed at long-term capital gain rates.
That liquidity crisis is why the Federal Reserve had to step in last week and act as commercial bank of last resort, agreeing to buy short term notes called commercial paper directly from companies.
Known as conduits, these special-purpose vehicles borrow in the short-term, commercial-paper market to make acquisitions of highly rated paper in American asset-backed securities, and have been walloped by the plunging value of those assets since the frailty of subprime loans were exposed.
The hope is that investors will buy into this fund, and it will unfreeze the short-term asset-backed commercial paper market.
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