Monday, April 19, 2010

Bank Lending Has Finally Resumed

Looks like the great deflation has finally hit bottom. Today the Federal Reserve reported Total Commercial and Industrial Loans rose for the 2nd week in a row after 16 months of weekly declines. Since Oct 22nd there have been only 11 weekly increases in total loans out of 77 weekly reports.

To be sure, this was a doozey, bottoming out at a year-over-year decline of 20%, the largest decline on record since this data was collected in the mid-70s.

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