chapter7moneymarkets-資料下載頁
2024-12-29 08:34本頁面
【正文】 ic conditions Globalization of Money Markets n Money market rates vary by country l Segmented markets l Tax differences l Estimated exchange rates l Government barriers to capital flows n Deregulation Improves Financial Integration n Capital Flows To Highest Rate of Return Globalization of Money Markets n Eurodollar deposits and Euronotes l Dollar deposits in banks outside the . l Increased because of international trade growth and . trade deficits over time l No reserve requirements at banks outside . n Eurodollar Loans l Channel funds to other multinationals that need shortterm financing Globalization of Money Markets n Euromercial paper l Issued without the backing of a banking syndicate l Maturity tailored to investors l Dealers that place paper create a secondary market l Rates range between 50 and 100 basis points above the LIBOR rate Globalization of Money Markets n Performance of international securities n Effective yield for international securities has two ponents l The yield earned on the investment denominated in the currency of the investment l The exchange rate effect Globalization of Money Markets n Performance of international securities n Yield for an international investment Yf SPf – PPf PPf Yf = Foreign investment’s yield SPf = Investment’s foreign currency selling price PPf = Investment’s foreign currency purchase = Chapter Concepts Summary n Surplus units channel investments to securities issued by deficit units n Debt securities markets l Money Market l Capital Market n Money market securities l Shortterm l High quality l Very good liquidity 謝謝觀看 /歡迎下載 BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES. BY FAITH I BY FAITH
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