"Commercial paper activity shows signs of steadying" writes FT.com

Sep 14 07

FT.com says "Commercial paper activity shows signs of steadying". "The commercial paper market showed significant signs of stabilising on Thursday, suggesting short-term investors that have driven a dramatic shrinkage in the market may have largely completed their exit from commercial paper backed by mortgages and other assets," says the FT. The paper quotes Peter Crane, "Since problems in the commercial paper market began, much of the paper has probably already turned over.... Contraction in CP is not a sign of weakness, it's one of strength as issuers are escorted in an orderly manner out of the market."

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