muses of the moment

January 8, 2010

Paper market shrinks

Filed under: Bailout Nation, Economic Crisis, The Federal Reserve — totallygroovygirlfriday @ 10:13 pm

This is a little odd.

US commercial paper mkt shrinks sharply in wk
January 7, 2010, 11.13 pm (Singapore time)

NEW YORK – The US commercial paper market contracted sharply in the latest week after two weeks of expansion, in the aftermath of the global credit crisis and a protracted recession, Federal Reserve data showed on Thursday.

For the week ended Jan 6, the size of the US commercial paper market, a vital source of short-term funding for companies’ day-to-day operations, fell by US$94.2 billion to US$1.076 trillion outstanding, from US$1.170 trillion outstanding the previous week.

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