Asset-Backed Paper Market Continues Its Contraction.

The article reports on the continuing contraction of the asset-backed commercial-paper market as investors avoid this type of short-term debt, according to data released by the U.S. Federal Reserve. The creation of a superfund aims to alleviate the pressure on the market. Though the commercial-paper market continues to contract, the rates investors charged issuers of asset-backed commercial paper continued to drop, putting them more than one percentage point below the peak hit in September 2007.