Liquidity has been strong in the WMP market, but these charts make clear how investors are moving into shorter duration products in 2014.
The two charts below show non-guaranteed WMPs from small/medium banks (top) and state-owned/large banks on bottom. The lines show yields on 1,2,3,6 and 12 month products. In the small/medium chart, the effect of the trust default in late January is visible.
Macro Afternoon
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Everything but local stocks had very solid sessions across Asia today on
the back of renewed optimism across Wall Street overnight as some softer
PMI num...
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