Commercial and industrial loans at US commercial banks jumped +$211 billion YoY in the week ending May 13th, to $2.89 trillion, the highest since June 2020.

BREAKING: Commercial and industrial loans at US commercial banks jumped +$211 billion YoY in the week ending May 13th, to $2.89 trillion, the highest since June 2020.

This also marks the 3rd largest increase since April 2023.

Year-to-date alone, commercial and industrial loans have risen +$185 billion.

Loans are now just $180 billion below the May 2020 peak of $3.07 trillion.

This comes amid rising inflation concerns and a weakening labor market which have increased economic uncertainty.

Furthermore, companies are rushing to secure lower borrowing costs as surging energy prices fuel renewed Fed rate hike fears.

Corporate America is borrowing at a pace not seen in years.