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Low bond yields reflect excess liquidity, RBS says

September 08, 2010  

From Daniel Flatt

The recent lows in US treasuries are more the result of a search for yield and excess liquidity than a reflection of a flight to quality driven by fundamentals, argues the UK bank.

New lows in US Treasury yields are in large part the result of emerging market countries seeking to invest their massive foreign currency reserves and should not immediately be construed as evidence that investors are rushing to traditional safe havens,...


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 SYNDICATED LOANS

Rank Bookrunner Value ($m) No. %Share
1 Industrial & Commercial Bank of China - ICBC 1,160 1 16.4
1 Bank of Communications Co Ltd 1,160 1 16.4
3 State Bank of India 964 3 13.6
4 Land Bank of Taiwan 400 7 5.6
5 Maybank Investment Bank Bhd 332 1 4.7
6 AXIS Bank 236 2 3.3
7 IDBI Bank Ltd 124 1 1.8
8 HSBC 92 2 1.3
9 BNP Paribas 92 1 1.3
10 First Commercial Bank Co Ltd 65 4 0.9
Subtotal 4,623 18 65.2
Total 7,090 32 100.0


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