Skip to content
Palanor is in early release, with our founding customers.Become a founding customer →
The Real Rate Index45.30.00Palanor: Inflation Pulse50.7+0.06Palanor: Geopolitical Stress59.7-0.25Palanor: Liquidity58.8+0.87Palanor: Capital Tightness46.4-1.11Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression52.8-0.63Palanor: Consumer Confidence47.1-1.44Palanor: US Dollar Strength46.5+0.01Palanor: Labor Heat63.20.00Palanor: Recession Vocabulary28.7+0.64Palanor: Uncertainty Index53.2-0.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.7+0.74Palanor: Reshoring Sentiment22.7-0.15Palanor: AI Substitution28.6+0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.8+0.43Palanor: Quit Pressure34.7-2.85The Mania Index88.00.00The Palanor Index57.5+0.37Cost Disease Spread33.20.00Palanor: US vs China49.4-0.05Rise of Socialism Index40.6-0.18The Bubble Memory98.5-0.00Palanor: Steward Confidence51.0+0.19The Long Watch90.30.00The Reshoring Index55.20.00The Capital Return Index80.2-0.77The Discourse Index74.3+1.91The Hesitation Index33.4+2.64Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index76.1-2.39The Boardroom Index81.7-0.84The Layoff Cycle Index35.6+2.75Capital Deployment Posture Index61.7-0.67The Consumer Health Index41.8+0.07Labor Hours Composite44.40.00The Dollar Erosion Index65.5-1.13Palanor: Risk Appetite35.4-0.76
PalanorPalanor

Line

Commercial Paper Credit Spread

30-day A2/P2 nonfinancial commercial paper rate minus the AA rate, basis points

20 bp on Oct 21, 2026−15 bp since Sep 30, 2016
YTD1y2y5y10y20yAll
ForecastOffContinuationForesight™
Show · 1 ▾
U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.5-year rangeThe highest and lowest readings of the last five years, as a band. One-series charts only.High and lowMarks the highest and lowest readings in the window shown.
Current·Data to Oct 21, 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

Palanor Foresight™ comes with a free Palanor account. Create one · Continuation is open to everyone.

Palanor calculation from Federal Reserve Board commercial paper rates. Daily, on days both rates are published.

What lower-rated companies pay over top-rated ones to borrow for a month. The shortest-dated corporate credit spread there is.

What this chart reads

Sources

Commercial Paper Credit Spread (30-Day A2/P2 Minus AA Nonfinancial). Source: Palanor calculation from Federal Reserve Board commercial paper rates (RIFSPPNA2P2D30NB, DCPN30), via FRED. Public domain.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

Related charts

Credit & debtForecast

Credit Card Delinquency

U.S. credit card balances 90+ days past due, and the share of balances newly falling that far behind, %

12.9%4 viewsData to Jun 2026
Credit & debtForecast

Serious Delinquency by Loan Type

Share of U.S. balances 90+ days past due, by loan type, %

12.9%Data to Jun 2026
Credit & debt

U.S. Household Debt by Type

Outstanding household debt by loan type, $ trillions

$13.12TData to Jun 2026
Credit & debtForecast

Commercial Real Estate Loan Delinquency by Bank Size

Delinquency rate on commercial real estate loans at U.S. banks, %

1.27%Data to Apr 2026
Credit & debtForecast

Credit Card Interest Rate

Average interest rate on U.S. credit card accounts, %

21.2%Data to Aug 2026
Credit & debtForecast

China, Japan and the U.K.: U.S. Treasury Holdings

U.S. Treasury securities held in each country, end of month, $ billions

$1.07TData to Aug 2026

Cookies

We only use essential cookies to keep you signed in and remember your theme. No analytics, no tracking, no ads. See the Privacy Policy for the full read.