WMP Non-Guaranteed Product Yields in 2014

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.