Wednesday, January 3, 2018

What's Up With the Asset Backed and Commercial Paper Market?

Above are three charts for the short-term asset backed market.  Over the last month, we've seen increased spreads.  The overnight market (top chart) is a bit higher.  But the 30-day spread (middle chart) and 90-day spread (bottom chart) have both spiked pretty sharply.  

We're also seeing increased spreads in the short-term commercial paper market.