Recent News
Businesses & Consumers Report Stronger Loan Demand, Banks Await
A large majority of U.S. community banks reported year-over-year declines in loan balances in the second quarter. Loan growth has been largely suppressed across the industry as excess savings has translated to less need for credit by both consumers and businesses. While the rise in deposits typically translates to higher-yielding loan opportunities, a growing number of banks are coming to terms with the likelihood that at least a portion of the excess liquidity could become a long-term fixture on their balance sheets as margins are further compressed.
by Laura Fox
FEATURED MARKET DATA
Retail Sales Lower in July
U.S. retail sales, a gauge for consumer spending fell 1.1% in July following an upwardly revised 0.7% increase in June. Underlying data suggests that consumers are beginning to curb spending on goods in favor of services following the reopening of the economy. Sales dropped across various categories including autos, clothing, sporting goods, and furniture.
by Laura Fox 