From Stone McCarthy Research:
Federal Reserve Commercial Paper Outstanding Up $11.8 Bln in Oct. 26 Week
Commercial paper (CP) outstanding rose $11.8 billion on an adjusted basis in the week ended October 26. This was the first rise since mid-July, and hints that demand for commercial paper may have finally started to improve along with business confidence.
Nonfinancial paper rose $8.7 billion, with domestic nonfinancial paper up $7.7 billion, and foreign nonfinancial paper up $1.0 billion.
Financial paper fell $5.7 billion, with domestic financial paper down $12.5 billion, and foreign financial paper up $6.8 billion.
Asset-backed commercial paper was up $8.8 billion, the first rise since early August.
On an unadjusted basis, commercial paper rose $8.7 billion. There has been some disparity between the adjusted and unadjusted data in recent weeks that seems to be an artifact of the financial crisis in the fall of 2008 when commercial paper lending activity largely froze.
