​ The SIFMA (​Security Industry and Financial Markets Association, formerly the Bond Market Association) says "​Money Market Outstandings" exceeded $​4.​06 Trillion in 2006, according to its latest "​Research Quarterly". Total money market instruments, which include commercial paper (​CP), large time deposits (​CDs) and bankers' acceptances, ended 2006 up 18.​7% over yearend 2005 and up 6.​3% for the quarter. "​CP growth has been driven by corporate investment, asset-​backed CP product development and the recent surge in M&​A activity. Investors are attracted to short-​term markets by the current inverted yield curve," says the publication.

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