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+0.09Palanor: Geopolitical Stress60.0-2.16Palanor: Liquidity57.9-0.79Palanor: Capital Tightness47.5+0.91Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression53.4+0.29Palanor: Consumer Confidence48.6+0.50Palanor: US Dollar Strength46.50.00Palanor: Labor Heat63.2-0.01Palanor: Recession Vocabulary28.1+0.54Palanor: Uncertainty Index53.4+1.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.0-0.52Palanor: Reshoring Sentiment22.8+0.54Palanor: AI Substitution28.4-0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.4-0.45Palanor: Quit Pressure37.6+0.42The Mania Index88.00.00The Palanor Index57.1-0.51Cost Disease Spread33.20.00Palanor: US vs China49.5-0.17Rise of Socialism Index40.8-0.26The Bubble Memory79.90.00Palanor: Steward Confidence50.8+0.13The Long Watch90.30.00The Reshoring Index55.2+0.00The Capital Return Index81.0-0.75The Discourse Index72.4+1.83The Hesitation Index30.8-6.58Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index78.4+1.36The Boardroom Index82.5-0.00The Layoff Cycle Index32.8-2.51Capital Deployment Posture Index62.3+1.26The Consumer Health Index41.7-2.96Labor Hours Composite44.40.00The Dollar Erosion Index66.6+0.14Palanor: Risk Appetite36.2+0.83
PalanorPalanor
← All signals

credit

Commercial Paper Credit Spread (30-Day A2/P2 Minus AA Nonfinancial)

Latest

22basis points

Use this headless →

Methodology

## What this measures

The extra interest lower-rated (A2/P2) nonfinancial companies pay over top-rated (AA) ones to borrow for 30 days in the commercial paper market: RIFSPPNA2P2D30NB − DCPN30, in basis points, on days both are published.

## Why it matters

It is the shortest-dated corporate credit spread there is, and it reacts within days when lenders pull back from weaker borrowers.

## How to read it

Compare it with its own history. A widening while AA rates hold still is a credit signal, not a policy move.

## What it does not say

Only issuers large enough to use commercial paper. One thin day of A2/P2 trades can move it.

## Source

Palanor calculation from Federal Reserve Board commercial paper rates (RIFSPPNA2P2D30NB, DCPN30), via FRED. Public domain.

Read this signal inside the lattice.

Palanor weighs every signal against the world your organization is watching. Methodology is public; integration is the platform.

See it in Palanor →

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.