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Text size [+][-]  Saturday November 21 2009GLOBAL EDITION

Considered view
03 Oct 2008 07:13

What’s that noise?

By Robert Cyran  AND  Dwight Cass

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The amount of US commercial paper outstanding fell by $95bn last week to $1.6 trillion. This is a record drop.
The market for short-term debt saw a record fall in issuance last week. The market simply isn’t open to weak companies or for long maturities. One factor –Treasury issuance crowding out corporate borrowers – could prolong the pain.

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