Bloomberg reports:
What do America’s banks know about the state of the U.S. economy that has them hoarding ultra-safe bonds?
There's more:
At Bank of America, consumer lending has contracted for four straight years, the longest slump since at least the mid-1990s, data compiled by Bloomberg show. JPMorgan Chase & Co. has seen its consumer loans decrease in four of the past six years, while Wells Fargo & Co. reported an increase of less than 1 percent last year.
We are reminded in the article:
Investing in government bonds is proving to be a profitable move for banks. They’re making over a 100 basis-point spread by purchasing five-year Treasuries
The banksters.
