The asset-backed commercial paper market saw an apparent spike in volume during the first two days of July. According to figures posted by the Federal Reserve, month-end outstandings in June came in at just below $720 billion, though the Fed reports outstanding ABCP at $734.7 billion for Wednesday July 2, implying a near $15 billion increase in just two days.

Whether or not this is reflective of an actual surge in issuance is unclear, as the last time numbers showed a significant and unexplained jump, the Fed subsequently footnoted the increase as a reporting anomaly (click for past coverage). The Fed’s numbers reflect data provided by the Depository Trust Company.

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