Lecture 13Domestic & International Money Markets

Domestic

T-Bills

Public IssueTender IssueAuction Issue

Direct Placement+ Tranches

Commercial Paper

Interbanks

Acceptances, Repurchases

CDs

Also:

Cool Reading:Carpenter and Demiralp, 2006

International

Eurodollars/Euromarket

Bonds

Macauley Durations/Yield Curves

Next Time

Options

Read Pilbeam, Cht 14, Liebowitz, (2005), in coursepack.