• 4 minutes Permian in for Prosperous and Bright Future
  • 7 minutes Amount of Oil Usage in the United States
  • 10 minutes America Could Go Fully Electric Right Now
  • 33 mins Something wicked this way comes
  • 11 hours Famine, Economic Collapse of China on the Horizon?
  • 3 hours Why NG falling n crude up?
  • 17 hours US after 4 more years of Trump?
  • 16 hours Oil giants partner with environmental group to track Permian Basin's methane emissions
  • 4 hours Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 19 hours .
  • 3 days Daniel Yergin Book is a Reality Check on Energy
  • 2 days The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 4 days Gepthermal fracking: how to confuse a greenie
  • 3 hours .
  • 17 hours Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 3 days Open letter from Politico about US-russian relations
How COVID-19 Is Transforming The Auto Industry

How COVID-19 Is Transforming The Auto Industry

Dealerships are looking to pre-owned…

Global Economy Throwing Up Red Flags For Oil

Global Economy Throwing Up Red Flags For Oil

Investors are feeling increasingly gloomy…

Trade War Weighs On Western Automakers In China

Trade War Weighs On Western Automakers In China

Western automakers in China are…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Bank Lending and Other Key Stats Take a Turn for the worse

I wrote last month that several economic indicators seemed to be turning positive.
I may have spoken too soon.

The last two weeks a number of key stats have taken a notable turn for the worse.
U.S. commercial paper yields, for one. I know I've been talking about this a lot lately, but the action in this market is getting very unsettling.

On Friday, yields on 90-day asset backed commercial paper spiked to 0.49%. Their highest since July 1, 2009.

US Commercial Paper Rates

90-day yields settled back yesterday, but at higher levels than we've seen for the last several months. There is a notable flight from this market.

Bank lending has also taken a nosedive of late. Since April 7, outstanding loans at U.S. commercial banks have fallen by over $50 billion. The biggest two-week drop so far in 2010.

US Bank Loans & Credit

(Remember, the big "jump" for the week of March 31, was a statistical anomaly. Caused by banks bringing loans held in special purpose vehicles back onto their balance sheets, as mandated by new accounting rules.)

It seems that, after a short respite, the economic climate has once again turned dubious. Forewarned is forearmed.

By. Dave Forest of Notela Resources


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News