Commentary: Commercial-paper market starts to thaw

While the credit markets continue to be locked up, the commercial-paper market has started to see signs of movement. Columnist Mark Gongloff writes that while the market may fall again, its worst days are likely over as the riskiest borrowers are gone. "With banks pretty much useless now as a source of loans, credit-worthy companies can find funding in the commercial-paper market, and they're able to do it at a saner yield," said Howard Simons, an analyst at Bianco Research.

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