Jan. 31 (Bloomberg) -- The market for corporate borrowing through U.S. commercial paper contracted for a second week after three months of increases.
The seasonally adjusted amount of U.S. commercial paper decreased about $700 million to $1.125 trillion outstanding in the week ended yesterday, the Federal Reserve said today on its website. That’s the lowest level since the market touched $1.105 trillion in the period ended Jan. 9.
Corporations sell commercial paper, typically maturing in 270 days or less, to fund everyday activities such as rent and salaries.
To contact the reporter on this story: John Parry in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Alan Goldstein at email@example.com