- The amount of outstanding commercial paper has risen for the past 3 weeks to $1.79T, which is the highest level since April.
- The article notes that the rise in issuances of commercial paper may be partially due to the fact that the riskiest borrowers have been driven out of the market.

Bonds/Forex sector headlines

• Today 02:51am
  (RU) Russian Central Bank: FX reserves increased to $454.9B from $449.9B w/w- Note: Previous week: Gold/FX Reserves at $453.5B v $475.4B w/w (-21.9B net loss)
  
• Today 02:45am
  *(FR) FRANCE Q3 ILO UNEMPLOYMENT RATE: 7.7% V 7.8%E; MAINLAND UNEMPLOYMENT RATE: 7.3% V 7.4%E
  
• Today 02:44am
  (IN) India Wholesale Price Index w/e Nov 22: 8.40% v 8.95%e- No revisions
  
• Today 02:35am
  (HU) Hungarian Fin Min: Hungary may enter ERM in 2010- newspaper interview
  
• Today 02:22am
  iTraxx crossover index narrows by 10bps to 995bps, iTraxx Europe Index seen relatively unchanged at 192bps