June 28, 2018 / 4:59 PM / 5 months ago

UPDATE 1-U.S. commercial paper supply posts biggest drop since 2015

 (Adds background)
    NEW YORK, June 28 (Reuters) - The amount of U.S. commercial
paper outstanding registered its steepest weekly decline in over
2-1/2 years as non-financial companies slashed their issuance of
short-term debt ahead of quarter-end, Federal Reserve data
released on Thursday showed.
    Companies issue short-term debt to finance their inventories
and payrolls.
    Non-seasonally adjusted commercial paper outstanding - which
some analysts consider a more reliable reading than the
seasonally adjusted one since it has been distorted by the
2007-2009 global credit crisis - fell by $34 billion to $1.091
trillion in the week ended June 27.
    That was the biggest since a $64.75 billion drop in
September 2015. 
    Adjusting for seasonal factors, commercial paper outstanding
decreased $17.3 billion to $1.085 trillion in the latest week.
    Non-seasonally adjusted non-financial commercial paper
outstanding fell by $27.3 billion, while financial commercial
paper declined by $6.5 billion.

 (Reporting by Richard Leong; Editing by Dan Grebler)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below