Business credit bears watching — conditions are tightening at the margin.

Baa Corporate Spread · over 10-Year Treasury

Baa spread: 1.62% — The Baa spread is 1.62 points — corporate credit is priced calm.

Lending Standards · net % of banks tightening

Standards: 8.10% — A net 8% of banks are tightening business-loan standards — mild tightening.

Business-Loan Delinquency Rate

Delinquency: 1.34% — Just 1.34% of business loans are delinquent — borrowers are keeping up.

C&I Loan Growth · year-over-year

C&I loans: 8.10% — C&I lending is up 8.1% from a year ago — a steady pace.