Tue, 14 April 2020
JP Morgan has stopped making business loans and they’ve tightened up their mortgage lending standards to at least a 700 credit score and 20 percent down. No doubt other banks will follow. It’s reminescent of the their move last year when they completely pulled out of the repo market overnight. Gold coincidentally rose $22 per ounce while we were speaking. Not a bad move for a monday. |
