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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FED
After the Q1 report saw a mixed bag for loan demand, the Q2 report saw a (in some areas sharp) normalization of prior declines.
- Commercial & Industrial loan demand was stable for both large & medium firms and small firms in Q2 after heavy declines of -26.6% and -23% respectively in Q1. It was the first time they haven’t declined on the quarter since 3Q22.
- Consumer loan demand saw directional improvements across the board although was mixed in terms of outright levels. Credit cards saw a net 2% increase in demand after the -12% in Q1 was the largest net share decline since the pandemic, whilst auto loans saw -10.4% after the -26% in Q1 was the largest since 2Q23.
- CRE loans saw limited improvement in demand for construction and land development (-15.9% after -16.7%) but greater normalization for non-residential components (nonfarm -19% after -29%, multi-family -17.5% after -33.9%).
- Residential Mortgage demand continued to decline on the quarter. The relative changes were somewhat mixed though, with GSE-eligible and government-insured loans seeing a larger decline in demand but all other areas declining by less.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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