Last month the US Treasury unveiled a scaled-down version of the much-anticipated Public Private Investment Programme for legacy securities.
The latest version of the plan will supply up to $40 billion of purchasing power for eligible assets – a meaningful number in terms of new demand although a far cry from the $300 billion to $400 billion originally outlined nearly three months ago. Despite the reduction in the PPIP’s size, most industry analysts agree that the programme remains a positive development for the market.
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