Investors Lending for Longer in Comm'l Paper Market

There's a lot of interest in three-month paper and some in the six-month space, says trader at primary dealer. He even saw a one-year trade, a first in recent months. "People are feeling more comfortable, month-end is over and there could be money coming from Europe," he says. Since the ECB's rate cut last month, many money market funds shut out new investors and some market participants say companies may be investing with US money market funds instead.