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Commercial Paper Credit Spread

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

22 bp on Oct 20, 2026−1 bp since Dec 12, 2025
YTD1y2y5y10y20yAll
Forecast availableOffContinuationForesight™
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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 20, 2026

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

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.

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