U.S. commercial paper market shrinks in week-Fed

The amount of U.S. commercial paper contracted in the week ended July 15, Federal Reserve data showed on Thursday.

U.S. seasonally adjusted commercial paper outstanding fell $6.6 billion to $1.389 trillion in the latest week.

Non-seasonally adjusted commercial paper outstanding — which some analysts consider a more reliable reading than the seasonally adjusted measure since it has been distorted by the financial crisis — fell $2.4 billion to $1.446 trillion.

U.S. non-seasonally adjusted foreign financial commercial paper outstanding fell $3.5 billion to $355.4 billion.