Bank Lending Continues To Contract In Europe

By Jeffrey P. Snider of Eurodollar University

Chief Investment Strategist • Jul 26, 2023 at 11:08 PM EDT

The credit crunch is spreading and deepening meaning the European economy will more than struggle to get out of its recession, it will end up being shoved farther into it.

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Bank lending continues to contract in Europe as demand for loans there have plummeted to the worst in ECB's history (lending survey). The credit crunch is spreading and deepening meaning the European economy will more than struggle to get out of its recession, it will end up being shoved farther into it. And interest rates are not the reason why. On the contrary, interest rates are telling us what that reason is.

Video Length: 00:18:39

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This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. Investments involve risk and you can lose money. Past investing and economic performance is not indicative of future performance. Alhambra Investment Partners, LLC expressly disclaims all liability in respect to actions taken based on all of the information in this writing. If an investor does not understand the risks associated with certain securities, he/she should seek the advice of an independent adviser.

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