Monthly review for commercial paper and medium-term note market - September 2021

Published on 20 October 2021

In September, the overall market outstanding amounted to € 300 billion after € 303 billion in August. The NEU CP outstanding amounts of corporates and financial issuers are down while those of the public sector are increasing.
The yield curve of financial issuers is roughly flat up to 9 months (between -0.55 and -0.52%). The weighted average rate on the 1-year pillar stands at -0.48% (+ 3bps).
The corporate issuance yield curve flattens out in September.
The roll rate stood at 97% in September. Since the start of the year, the roll rate has been positive at the start of each quarter and then drops below the renewal threshold (100%) for the following two months.

Updated on 24 October 2023