U.S. asset-backed bonds continue slide

04/25/2008 | Financial Times (free content)

The asset-backed commercial-paper market in the U.S. sank to its lowest level since mid-December, Federal Reserve data show. The market for short-term paper backed by mortgages, car loans and credit cards fell $10.8 billion for the week ended Wednesday, on top of a decline of $2.9 billion the previous week.

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