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new issues of asset backed and mortgage backed securities fall

new issues of asset backed and mortgage backed securities fall

Summary: The scramble to set up a $100 billion SIV is aimed at averting the immediate threat of banks having to take a large chunk of existing ABS funding onto their balance sheets The Fed will be forced to maintain a high level of liquidity over the next few months and another rate cut is likely causing a further decline in the dollar and boosting gold

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