There’s been a lot of talk lately of the commercial paper market drying up. The financial commercial paper market has been hard-hit, of course, but there’s been speculation in the press that the contagion is spreading to the industrial side of the market, with potentially devastating impact on the real economy. It turns out that the Fed keeps close tabs on the commercial paper market, and releases regular data on the subject here. From the data, it seems clear that the impact on the non-financial sector has been small.
Via Epicurean Dealmaker.
