Now this is welcome news for the world economy. We might even catch a nice short covering updraft tomorrow if there isn't any more bad news overnight.
Yields on the highest-rated one-day dealer-placed commercial paper declined 1.15 percentage points to 2.35 percent, according to data compiled by Bloomberg. Sears Holdings Corp. reduced its offer rate 1 percentage point to 3 percent. HSBC Holdings Plc lowered the rate it's willing to pay by 25 basis points to 2 percent, the data show. A basis point is 0.01 percentage point.
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