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Ash4781

Bba Lending Figures (apr'09) / Boe Review Of Lending Trends

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http://www.bba.org.uk/content/1/c6/01/16/8...time_series.xls

I missed these figures when they were released in May but there may be a BBA release on Tuesday. 'Table 2. Monthly changes in sterling lending to the M4 Private Sector'

Apr'09 looks worrying.

BOE data did confirm this as

Lending to British businesses fell by its biggest amount in nearly nine years in April in a sign the credit crunch is still hitting companies hard, Bank of England data showed on Thursday.

....

Lenders report that demand for new credit continues to be constrained by weak investment intentions and businesses' desire to reduce debt levels," the BoE said

http://www.guardian.co.uk/business/feedarticle/8564401

Looks like deflation

Edited by Ash4781

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Looks like deflation

It does.

I've been suffering serious cognitive dissonance mulling over the inflation debate these last few months. With the help of Mish's recent tour-de-force on the subject I'm feeling a little more comfortable and taking a seat in the deflation camp.

Inflation, if it happens, will be a major currency event for Sterling. Let's see how this year's gilt auctions play out first.

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Yes May 2009 BBA figures due 23rd June.

BBA April Stats

Boom! Headshot!

head-shot-demotivational-poster.jpg

Inflationists lose!

Just kidding guys!

Lets keep it clean!

puppy-and-kitten.jpg

TBH, I am tending to biflation after the next deflationary wave. Governments are going to globally shove so much cash at this problem once it really starts to bite that that can be the only resolution.

Which is why I will be balls-deep this time next year in Platinum ETCs as I was at the start of this year.

(10k in 3 months aint bad btw ;) )

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It does.

I've been suffering serious cognitive dissonance mulling over the inflation debate these last few months. With the help of Mish's recent tour-de-force on the subject I'm feeling a little more comfortable and taking a seat in the deflation camp.

Inflation, if it happens, will be a major currency event for Sterling. Let's see how this year's gilt auctions play out first.

It will be interesting to see the figures tomo. Lending appears to be still contracting, and lots of companies are still completing rights issues to pay down debt.

Anyone keeping track of the rights issues in 2009?

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"Balls deep" is truly a great colloquialism for personal involvement

I am "in up to the makers nameplate" in HPC!!

Edited by sbn

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Ducking Fire.

Personal deposits trending down from a pitifully low base. Non unexpected. Financial companies borrowing like loonies.

Utterly unsustainable and getting worse.

King Knut and his merry men are going for the big one.

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Retail deposits data looks terrible. Suggesting funding is only really availble from HM Gov for the banks to lend. Wholesale market (MBS) is still shut right?

So will the gov loans dry up or will they just print it?

IMO this market bounce could continue until we have a gilts/sterling crisis.

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Retail deposits data looks terrible. Suggesting funding is only really availble from HM Gov for the banks to lend. Wholesale market (MBS) is still shut right?

So will the gov loans dry up or will they just print it?

IMO this market bounce could continue until we have a gilts/sterling crisis.

You read it the same way as me. The secondary market is closed.

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The banks’ net mortgage lending of £2.3bn was the weakest monthly rise since early 2001, although mortgage approvals continue to increase.

Ehxcellent. The refi-economy remains broken while the house price collapse is assisted down the steps from A&E to intensive care. In doing so, the desperate (the newly unemployed, reset thwarted, credit starved, the insolvent banks) can make damage limitation arrangements, and sell, while the cash-rich/bullish/impatient can help them do so by buying.

Everyone wins, because by shooting their collective bolts, buyers shore up a collapsing system while removing themselves from the game and allowing the bearish the final honour of shoring up the system later, at it's worst, and at lower prices.

No one ACTUALLY wanted Armageddon after all; for all those who took it too literally it was a post-modern kinda ironic stance which implicitly criticised the system that got us to within a whisker of it. At least that's my take!

For those who championed that system and think this is a resurrection of it; please, go and do a good deed today, and buy!

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