• The TD Economics Financial Stress Index (TDFSI) for Canada continued to improve for the third straight week, although it still remains above its pre-September levels.

• Meanwhile, the U.S. TDFSI nudged higher, but remains near its lowest level of the last year.

• Short-term pressures have now consistently abated in the US, Canada, and Europe for over a month.

• ABCP spreads have narrowed considerably, as well, outpacing the noticeable improvement in other CP. However, part of this relative improvement may reflect the light issuance of ABCP as of late.

• Medium-term funding costs continue to improve markedly in the U.S., but only grudgingly in Canada.

TD Weekly Financial Indicators