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The short-term IOUs look increasingly attractive compared with locking in longer-term borrowing in a market beset by turbulence.
Yields in the CP market have reached levels not seen since 2008, leaving some corporates scrambling to find cash elsewhere.
As the fed funds market dries up, the FOMC is asking what's next. This decision could have dramatic consequences for financial markets.
Surge in U.S. dollar LIBOR is making funding more expensive for some borrowers outside the United States.
