The Corporation for Interest Rate Management | CIRM | Helping smart borrowers borrow smarter.

The CIRM Reading List

Recently Reported

This article is a great example of the high cost to borrowers of self-serving advice by swap vendors:

The Swaps that Swallowed Your Town
© March 5, 2010 by Gretchen Morgenson for The New York Times

Books We Admire

Richard Thaler and Cass Sustein
Nudge: Improving Decisions About Health, Wealth, and Happiness © 2008 Yale University Press

Dan Ariely
Predictably Irrational: The Hidden Forces That Shape Our Decisions © 2008 HarperCollins

Nassim Nicholas Taleb

The Black Swan: The Impact of the Highly Improbable © 2007 Random House

Fooled by Randomness : The Hidden Role of Chance in Life and in the Markets © 2004 Texere

Steven D. Levitt and Stephen Dubner
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything © 2005 William Morrow

Visit the Freakonomics web site

Daniel H. Pink
A Whole New Mind: Moving from the Information Age to the Conceptual Age © 2005 Riverhead Hardcover

Barry Schwartz
The Paradox of Choice: Why More is Less © 2005 Harper Perennial

Peter Bernstein
Against the Gods: The Remarkable Story of Risk © 1998 John Wiley & Sons, Inc.

Michael Lewis
Liars Poker: Rising Through the Wreckage on Wall Street ©1989 W. W. Norton & Company

Aaron Wildavsky
Searching for Safety ©1988 Transaction Pub

JOURNAL OF APPLIED CORPORATE FINANCE
Published quarterly by Wiley Blackwell on behalf of Morgan Stanley

Papers We've Written

Contact Us and we'll be happy to send you a copy of any of our papers below.
Steven N. Manos and Kathryn M. Tobin,
"Zen in the Art of Interest Rate Swaps," ©1992.

Michael Ochs, "Developers Can 'Unhedge' Those Costly Interest Rate Guarantees," REAL ESTATE REVIEW, The Real Estate Institute of New York University, Vol. 16, No. 3,
©1986.

Michael Ochs, "Creating the Perfect Edge," REAL ESTATE FINANCE, Federal Research Press, ©1986.

Michael Ochs, "Interest Rate Protection for the Real Estate Developer," REAL ESTATE FINANCE, Federal Research Press, ©1985.

CIRM Interest Rate Indications

Download samples (in pdf format) of recent weekly Interest Rate Indications:

March 1, 2010

February 1, 2010

January 4, 2010

CIRM Economic Comments

Here is a sampling of recent comments — for other insights, please contact us.

December 22, 2009

Pattern Recognition: Prime Rate Early 90s v. Now

October 13, 2009

Deflation: We got it now!

April 21, 2009

What in the world are we going through?

August 5, 2008

Velocity of Circulation of Money

April 22, 2008

Fed Funds Objective and 1-month LIBOR

August 7, 2007
Rate cuts in your future

July 24, 2007
Current TED spread widest in 4 years

July 17, 2007
"Third World" Economic Stats

June 26, 2007
Broad Annual Money Supply Growth for the last year

March 27, 2007
Where is inflation headed?

February 13, 2007
Ten Year Treasuries Below Fed Funds: Nothing Lasts Forever

January 23, 2007
Change in New Home Sales, 2005 v. 2006


Photo ©2005 by Louis P. Delaura