The Senior Loan Officer Survey on Monday Shows That Credit Conditions Did Not Tighten as Was the Initial Concern

The senior loan officer survey on Monday was definitely an event risk that many in the market were going to be closely scrutinizing for any more concrete, not just anecdotal evidence of a pullback and lending from banks. But instead, what we saw is that the survey showed that credit conditions in the first quarter did not tighten as dramatically as was the initial concern. That being said, I think the more fascinating aspect of the Senior Loan Officer Survey was the fact that demand fell rather sharply.