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Macronomics: Falling Bank Credit Growth, A Rising Money Multiplier

There are interesting goings-on in the non-equity world. Just as stock markets seem to hit new highs every day, banking data shows a troublesome set of outliers.

Money Supply Growth Reverses Trend

Money Supply Growth is slowing, all of a sudden. M3 - which is the money supply aggregate that measures the sum of all deposits in banks - has started to reverse its recently found upward growing path.

If you see this in conjunction with M0 (Reserve money) you’ll see how money supply growth . . .

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