2 min readAs 2009 draws to a close, many of us in the corporate treasury world will likely feel this is an easy year to leave in our rear view mirror. With the lingering effects of the credit crisis and ensuing recession paralyzing many treasurers, flight to quality trades swamped the market and drove 30-day Treasury yields…
1 min readOver the past year, the money fund industry has been shaken by credit and liquidity issues that resulted in more than $50 billion in direct support from fund sponsors. This “behind the curtain” support has tested the resolve of many money fund families and affected the industry in a variety of ways. As a result,…
2 min readThe month of September was one that brought several important shifts to the economic and credit landscape and it’s no coincidence that it marked the one-year anniversary of a near global financial meltdown that was averted by unprecedented government support. Analyzing side-by-side Federal Open Market Committee statements from August 12th and September 23rd reveals language…
2 min readAs 2009 draws to a close, many of us in the corporate treasury world will likely feel this is an easy year to leave in our rear view mirror. With the lingering effects of the credit crisis and ensuing recession The summer of ’09 at Capital Advisors Group has been anything but quiet. Our firm…
2 min readContinuous improvement in the U.S. economy is now leading the government to explore the exit strategies that will eventually wean the economy from the multitude of support programs enacted during the worst of the credit crisis. In Federal Reserve Chairman Ben Bernanke’s recent Humphrey Hawkins testimony, the Chairman went to great lengths to assure the…
1 min readIt likely goes without saying that here at Capital Advisors Group we have been keeping a very close watch over the controversy that is heating up over the regulatory structure of money market funds. With the Obama Administration now stepping in to exercise its power to question and potentially modify SEC suggested changes to money…
2 min readOver the last year or so the pursuit of yield, for many corporate treasurers, has been rightfully trumped by the objectives of adequate liquidity and capital preservation. This shift in objectives served treasurers well during the deepest of the credit crisis in 2008 as we saw liquidity and capital threatened like no time in recent…
1 min readIn our view, one of the most effective government programs enacted during the credit crisis, and likely the one that impacted Treasurers’ cash management strategies the most, was the temporary government guarantee program for money market funds. This one-year program, which is set to expire on September 18th of this year, has helped in large…
2 min readAs many recipients of our monthly newsletter are aware, Capital Advisors Group serves a wide range of clients, from private to public companies with small to large cash balances and institutions of all stages in between. Before you read further I’d like to stress that, given the current state of the credit markets, we’re stressing…
2 min readOver the course of the past year there have been a slew of government programs developed to prop up the credit markets and spur economic growth. The programs have had various impacts, from stabilizing money market fund flows, to providing liquidity support for certain asset classes and direct credit support for certain targeted credits. Still,…