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.
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