US business sentiment is solid, yet bank lending remains muted, making us cautious about the outlook for investment growth.US business activity seems to be continuing apace and all forward-looking indicators, in particular sentiment surveys, are flashing green. But there is an important blemish in this otherwise rosy picture: bank lending has been soft, and recent data is not showing any signs of an uptick. In September, commercial and industrial (C&I) bank lending was up 2.0% y-o-y,...
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